Given the CBO’s inglorious history of dire budget/tax predictions – always overestimating the revenue loss from tax rate reductions, why are House Republicans boxing themselves in with the agency’s preposterous $4 trillion COST of extending the cuts?

These are the same CBO bean counters who predicted a $2 trillion revenue loss from the 2017 Trump tax cut. Turns out the predicted revenue loss was a figment of the CBO’s imagination. There was no revenue loss to speak of.

Why listen to the CBO this time around? Fool me once, shame on you. Fool me twice, shame on me.

A solution is to adopt Senator Crapo’s proposed “current policy” baseline, which includes a full permanent tax cut. There is no “cost” to keeping the current tax law in place.

Liberals and the media are clutching their pearls, and acting like a current policy baseline is some crazy new idea that shatters their precious norms. But we don’t recall them objecting when the Obama White House invoked it to extend the Bush tax cuts: