Outrage of the Day: Tax Cuts without Revenue Estimates

Any tax action that Congress takes requires a revenue estimate — except for treaties.  That’s a budget rule, adopted by Congress.  The revenue cost of treaties is isn’t being analyzed — but there is a cost, because treaties only cut taxes.  Treaties can’t raise taxes, because revenue raisers must begin in the House of Representatives — and only the Senate gets in on treaties.  Occasionally, the beneficiaries of tax treaties are wealthy individuals, but usually they are multinational corporations — entitled to free speech under Citizens United.  Here’s an explanation and more, from my former colleague Pat Driessen from Joint Tax:  Tax Notes, Vol. 135, No. 6, 2012http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2069356.

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Author: patoglesby

From 1982 to 1990, I worked in tax policy for Committees of the United States Congress. In recent years, I was Adjunct Lecturer at UNC-Chapel Hill's Business School and then Adjunct Professor at its Law School.

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