"BBB" Is Not A Tax Cut & It Does Increase Budget Deficit

Stephen Moore contends that the "revenue estimates" from the Congressional Budget Office and the Joint Committee on Taxation "overlook the real effects of tax policy," allowing politicians and investors to "disregard" the projected impact on the budget deficit from the "Big Beautiful Bill" (BBB) passed by the House. Mr. Moore, along with White House Chief Economist Kevin Hassett, attempts to conceal or overlook the fact that the largest component of the "BBB," the extension of current tax law for individuals, is not a genuine tax cut since it does not alter consumer cash flow. Therefore, if Moore & Hassett claim that tax cuts enhance growth, it follows logically that the absence of a tax cut does not have the same effect.