Senate Republicans Consider a Trillion-Dollar-Plus Tax Cut for Budget

Senate Republicans Consider a Trillion-Dollar-Plus Tax Cut for Budget

WASHINGTON—Senate Republicans are considering writing a budget that would allow for up to $1.5 trillion in tax cuts over the next decade, said people familiar with the discussions. A budget that creates fiscal room for a $1.5 trillion tax cut, if adopted, would then be followed by a tax bill that would specify rate cuts and other policy changes that don’t exceed that figure. Calling for a tax cut in the budget would enable Republicans to lower tax rates while making fewer tough decisions on what tax breaks to eliminate to help pay for the cuts. Republicans contend that some expiring tax cuts would have been extended anyway and that their plan would boost economic growth and generate revenue, reducing the actual impact on the deficit below whatever overall number they agree on. Still, they may need to make some of the tax cuts expire after 10 years, leaving decisions to a future Congress they may not control.

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