Related… may also be pertinent in the tariff thread:
As Senate Republicans barrel toward votes in the coming days on President Trump's Big Beautiful Bill, they are using a controversial budget maneuver to hide $3.8 trillion in red ink.
This Senate-preferred accounting approach is known as using a "current policy baseline" and takes the stance that extending current tax rates should be counted as having zero cost even if they are set to expire.
'An egregious budget gimmick'
But the maneuver has been pilloried by economists.
The Committee for a Responsible Federal Budget
this week called the approach"an egregious budget gimmick" that could have the larger effect of allowing trillions in new government borrowing in the years ahead.
Andrew Lautz of the Bipartisan Policy Center has detailed how the method changed the score on a range of key tax issues in the bill.
In one case, the "current policy" approach says Senate provisions to extend tax rates for individuals will cost about $83 billion over the coming decade. The full cost to the national debt, meanwhile, is projected to be over $2.2 trillion.
How a GOP accounting maneuver hides $3.8 trillion in red ink from Trump's 'big, beautiful bill'