Senate Budget Committee Considers Appropriate Baseline Measure
Posted on Aug 8, 2017 in News
Senate Budget Chairman Michael Enzi confirmed that he intends to mark up a fiscal 2018 budget resolution in September. First, however, the Budget Committee will need to agree on how to measure the resolution, using either the current policy baseline or current law baseline. The former method, which reduces projected federal revenue by approximately $460 billion over 10 years, assumes expiring tax cuts will be renewed. In contrast, the current law baseline, which is used by the Congressional Budget Office, treats tax cuts as if they will expire on schedule. While several Senate GOP members anticipate employing the current policy baseline, the House Budget Committee’s approved budget does not assume permanence of temporary tax cuts.