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To: Your Nightmare

No it doesn't. I will be at least $140 billion short because of this credit.

What Congress does with appropriations and the budget side is entirely a separate issue for an appropriations bill, ability to collect a tax is what counts against the rate under the BEA/CBO methodology.

The ability of the NRST (a revenue bill) to raise revenue, given constant (equilibrium) conditions in comparison to the tax law it replaces(which is a equilibrium), is the essential criteria set by CBO under the BEA. That is the essential criteria the NRST and any revenue bill must meet, given conditions for a waiver for setting a lower rate(i.e. tax cut) cannot be achieved.

PAYGO RULES: CRS Rules 98-20006
Refer 2 USC 900-909
House
Point of order waivable by unanimous consent
Senate Point of order waivable by 3/5ths vote.
May be waived under Sequestration Rules on declaration of War or
conditions of <1% real economic growth for 2qtrs.


76 posted on 05/28/2004 9:53:25 PM PDT by ancient_geezer (Equality, the French disease: Everyone is equal beneath the guillotine.)
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To: ancient_geezer

What's the confusion? It isn't so much a credit as a REFUND of taxes double paid....


93 posted on 05/29/2004 5:58:34 AM PDT by Principled
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