You should never pass in my mind a tax law that automatically expires, just creates all these fiscal cliffs and puts all kinds of uncertainty in the economy. Why do they do that? CBO budget is assuming it does, taxes do increase and bring in about another $4 trillion worth of revenue. So that's why I say the $22 trillion in projected deficits is probably a rosy scenario. So this gets into real budget wonkery. (36:46–36:54)
CLAIM
Asserts that the CBO budget assumes $4 trillion in additional revenue from tax increases.
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