Arnold Ventures Reacts to Senate Budget Committee’s Irresponsible Proposal to Use Current Policy Baseline In Reconciliation Process

“The precedents being set are reckless, and the damage to America’s economic foundation would be lasting.”

George Callas, executive vice president for public finance at Arnold Ventures, provided the following statement in response to the announcement of the Senate’s proposed budget, which includes the reckless proposal to use ​“current policy baseline”: 

“The Senate budget resolution is an abdication of fiscal responsibility. It does not just open the door to a current policy baseline – it invites in a flood of new spending and phony budgeting. The precedents being set are reckless, and the damage to America’s economic foundation would be lasting. 

“There is a credible, pro-growth path to permanent tax relief that aligns with the president’s goals and avoids blowing a hole in the deficit. This resolution rejects that path entirely. If the House were to rubber stamp this irresponsible approach, it would all but end any serious chance of enacting fiscally responsible tax reform this Congress.” 

Learn more about how using a current policy baseline is a budget gimmick that sets a dangerous precedent. 

Earlier this year, Arnold Ventures released a report on 20 spending cuts and loophole closures that would save up to $4 trillion and allow Congress to both extend the TCJA’s pro-growth tax policies and pay for them. Callas is available for interview or comment on this and related public finance policy issues.