Well, this is a promising first step: “House Republicans are moving to increase the use of dynamic scoring through a rules change that would require long-term estimates of the economic effects of major legislation. The macroeconomic estimates required under the rule would include the projected effects of legislation on economic output, employment and capital stock, resulting in an assessment of how a proposal would cause the economy to expand or contract.” Essentially, this rule would force the Democrats to stop using the CBO to pretend – in at least some cases – that changes to the tax code are a zero-sum game. Once we can actually project future economic growth from tax reform and simplification, we can maybe get more of a grip on our horrendous spending problem without resorting to the ‘higher taxes’ duckspeaking so beloved of the Democratic leadership. Which would be nice: and which is why this has been a goal of the GOP leadership for some time. And now that we have both Houses of Congress, hey, time to do some reform.
And, if you’re wondering whether this is a good idea or not, wonder no more: “Rep. Chris Van Hollen (D-MD) of Maryland, the ranking Democrat on the House Budget Committee, slammed the proposed rule.” Van Hollen has gotten steadily more and more cranky* over the last decade, so it’s always instructive (also, entertaining) to see what will really set him off. He’s practically frothing over this particular idea, which is a Christmas gift right there.
(Image via Shutterstock)
Moe Lane (crosspost)
*Screaming about ‘trickle down economics.’ Man, I was, like, in my teens when that wheeze from the Democrats was new. What’s next? Calling it grody to the max?