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House Republicans are planning to push legislation later this year to extend the individual income tax cuts beyond 2026, though the Senate has thus far taken a dim view of the proposals.
Under current law, revenue is projected to be relatively flat over the next few years in relation to GDP, rise slowly and then jump in 2026 after certain tax cuts expire.
But a separate report for Medicare paints a somewhat bleaker outlook for the giant health program for seniors and people with disabilities, estimating that its hospital trust fund will dry up in 2026 —
lot of this is a gimmick” in pointing to the bill’s expiration dates for some of the lower rates, which were written to hold down the short-term cost but will prove politically tough to stick with come 2026