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JCT: tax provisions reduce revenues by about $3.819 trillion through 2034; committee questions macroeconomic assumptions and debt effects
Summary
The Joint Committee on Taxation reported that the tax provisions in the chairman’s substitute reduce revenues by about $3.819 trillion for fiscal years 2025–2034; members pressed for a conventional 10‑year view, macroeconomic analysis and full distribution tables.
Tom Barthold, chief of staff at the Joint Committee on Taxation, told the committee the JCT score for the tax provisions as distributed is a reduction in revenues of about $3.819 trillion over fiscal years 2025 through 2034.
During questioning members pressed JCT on the budget window used for scoring (the committee scoring used a 2025–2034 window under reconciliation instructions rather than the 10‑year CBO budget baseline through 2035). Barthold said the JCT used the budget‑resolution instructions and that the macroeconomic analysis…
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