Professor Rebecca Kysar was quoted in an article for Law360 regarding the recent economic outlook report from the Congressional Budget Office.
The Congressional Budget Office’s recent economic outlook report is murky on how the 2017 tax overhaul’s international measures lowered corporate revenue projections by roughly $110 billion, leaving space for debate about whether business-friendly regulations affected the adjustment.
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Although the CBO report doesn’t provide any granular details, it’s evidence that Treasury is taking liberties with interpreting the statute, according to Rebecca Kysar, a professor at Fordham University School of Law. Treasury’s actions don’t comport with the way the Joint Committee on Taxation originally scored the legislation, and the CBO’s report is relying in part on the committee’s estimates, she said.
