On the recordJune 30, 2025
CBO tells us that if we adopt current policy for taxes, we will save $507 billion. The deficit will go down by $507 billion if we do this. In 2012, I was here. The Bush tax cuts were going to expire in December of 2012. President Obama sat down with Republicans, and they came up with a way to extend those tax cuts by not passing them into law. They called it the alternative fiscal scenario that CBO said is based on the current policy. So "alternative fiscal scenario" in Latin means current policy. So we are doing what they did then. We are just doing it without any help from you all because you all will never do anything to make sure taxes go down. So we are going to make sure they go down forever. Current policy is good tax policy. Stick with the bill you wrote. You are going to be happy to reduce the deficit and make sure people's taxes don't go up tomorrow, the next day, forever. It is good policy. Current policy is good tax policy. I am done.
Source
govinfo.gov




