Budget Office Changes Fiscal Policy

The Congressional Budget Office recently appointed a new director. This director faces many challenges as he assumes this role, one of which is a recently changed method of budget analysis. “The Congressional Budget Office and Joint Committee on Taxation are now required to use dynamic scoring when evaluating major changes in tax and spending policy.” This is in opposition to the system they have been historically utilizing: static scoring. The major difference in the two systems is the presence of an assumption that the regulations passed by the Congressional Budget Office have a direct impact on the path of gross domestic product. This article in the New York Times discusses this difference in more detail, and outlines what the change could mean for corporate taxes in coming years.

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