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The Wall Street Journal: Senate Republicans considering budget allowing for up to $1.5 trillion in tax cuts

Bloomberg
Sen. Mike Crapo, a Republican from Idaho, says a tax cut should be “as big as we can get.”

Senate Republicans are considering writing a budget that would allow for up to $1.5 trillion in tax cuts over the next decade, said two people familiar with the discussions.

Budget talks are continuing and no final decision has been reached yet.

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 let Republicans lower tax rates while making fewer tough decisions on what tax breaks to eliminate to help pay for the cuts.

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