Pharma Investments, Ventures & Law Weekly
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Center on Budget and Policy Priorities
'Tax Extenders' Bill the Latest Test of Congress's Commitment to Fiscal Discipline
June 29th, 2008
"Tax extenders" legislation now before the Senate has become the latest battleground in the intensifying debate over whether Congress should abide by its "pay-as-you-go" (PAYGO) rules and pay for new tax and budget measures so they don't expand the deficit. Opposition to abiding by PAYGO is also impeding congressional action to extend Alternative Minimum Tax relief and to avert a scheduled cut in Medicare payments to doctors, and it will be central to the coming debate over extending the 2001 and 2003 tax cuts. Unfortunately, key congressional Republicans are now arguing that any extension of existing tax provisions should be deficit financed, on principle. This claim...
Source: Pharma Investments, Ventures & Law Weekly (2008-06-29)
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