Deficit Hawks Don’t Like the Senate Bill

“It was a busy weekend for the U.S. Senate, which narrowly advanced signature tax and spending legislation. The people most worried about the risks from U.S. fiscal deficits do not like what Republican senators came up with,” Axios reports.

“In a four-way tug-of-war among different Republican policy goals — pro-growth tax relief, populist goodies, spending cuts, and deficit concerns — the Senate compromise neglected the last in favor of the other three.”

“Deficit hawks are also worried that Republicans have set a new precedent that will allow future Congresses more freedom to blow out the deficit on narrow, party-line votes — by ignoring the reduced revenue from extending current tax policy in tabulating the bill’s deficit impacts.”