Tags: Barack Obama | tax reform | CBO | dynamic analysis | budget | American Action Forum

Orrin Hatch: 'Downright Dumb' Number Crunching Hinders Tax Reform

By    |   Tuesday, 18 November 2014 06:51 AM

Utah Republican Sen. Orrin Hatch, in a speech at the American Action Forum, called on the Congressional Budget Office and the Joint Committee on Taxation to take a wider range of factors into consideration when evaluating the impact of taxes on the economy, The Daily Caller reported.

"Tax reform has been and will continue to be a long and difficult process. I believe the expanded and sensible use of dynamic analysis can, if done correctly, be an important tool to help us achieve our goals," Hatch said.

Hatch, the ranking member of the Senate Finance Committee, wants government budget crunchers to use dynamic scoring of legislation to factor employment, income and gross domestic product into their analyses.

The current "static" method employed by government budget analysts when assessing the impact of tax reform proposals on revenue is misleading. These scorings influence how lawmakers vote, according to the Caller.

"If you listen to some people discussing static versus dynamic analysis, you think dynamic analysis [is] to be feared, is something that has never been used, ought to be avoided, contains mysterious features, is too hard to accomplish, and involves unmanageable uncertainties," Hatch said.

"Those views are typically overblown, and in most instances are also downright dumb," he said, according to the Caller.

Hatch pointed out that the Obama administration employs dynamic analysis when it comes to the impact of immigration reform on the economy.

"These same Democrats have written off dynamic scoring as some sort of fantasy used by Republicans to justify lower tax rates, but when the same type of analysis could be used to bolster the case for the immigration bill, they were singing a different song.

"And off a different song sheet altogether," he said, the Caller reported.

Hatch said he was for "using every tool at our disposal" to "pull this country out of the God-awful mess we have right now," the Caller reported.

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In a speech, Utah Republican Sen. Orrin Hatch called on federal budget analysts to change their static and "downright dumb" approach when evaluating the impact of taxes on the economy, The Daily Caller reported.
tax reform, CBO, dynamic analysis, budget, American Action Forum
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2014-51-18
Tuesday, 18 November 2014 06:51 AM
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