Did the Senate Just Create the Next Fiscal Cliff?
The Senate waded into the tax reform debate last week, adding its proposal to the House tax bill introduced at the beginning of November. Both proposals have seen fast and furious changes as lawmakers try to figure out how to achieve their intended policy goals while remaining within the fiscal and legal constraints of the process under which they seek to pass legislation.
Yet one recent move from the Senate has set up the potential for a hugely disruptive event in the future, replaying history and showing the shortcomings of the Congressional budget process. By encouraging short-sighted strategies that create fiscal chokepoints, lawmakers threaten to put the American public at risk at a time when many of them won't have to deal with the consequences.
Image source: U.S. Senate.
Source: Fool.com
