“A positive for the tax cuts is the donor base is very strongly in favor of it. First, they could assume that they don’t have to offset the cost of extending tax breaks that have lapsed or are scheduled to expire. This so-called “dynamic scoring” will be limited by the nonpartisan Joint Committee on Taxation’s estimates for the effects of tax cuts on growth. Third, they could take a page from the GOP’s 2001 and 2003 tax-cut playbook and make some or all of the tax cuts temporary. That means the third-most deficit-conscious member of the Senate GOP could set the outer limits for the tax cut.

Source: Wall Street Journal August 29, 2017 19:07 UTC