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Tax Cliff 2025: Accounting the Cliff Away

02.13.2025 | Duration: 17:44

This episode of Catching Up on Capitol Hill explores how Congress measures the cost of or revenue raised by a piece of legislation.

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Episode 03-2025 |  The budgetary math for a $4 trillion tax cliff is daunting. But what if the accounting is wrong and the cliff isn't really a cliff at all? It may sound too good to be true, but this is a point many lawmakers on Capitol Hill are making. Listen as Jennifer Gray and Tom Stout join John Gimigliano to discuss the concept of "current policy baseline" and how that idea could dramatically alter the legislative landscape for taxes in 2025.

Meet our podcast team

Image of John P. Gimigliano
John P. Gimigliano
Principal, Washington National Tax, KPMG US
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Image of Jennifer Bonar Gray
Jennifer Bonar Gray
Director, Washington National Tax, KPMG US
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Image of Thomas A. Stout
Thomas A. Stout
Director, Washington National Tax, KPMG US
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Image of John P. Gimigliano
John P. Gimigliano
Principal, Washington National Tax, KPMG US
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Image of Jennifer Bonar Gray
Jennifer Bonar Gray
Director, Washington National Tax, KPMG US
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Image of Thomas A. Stout
Thomas A. Stout
Director, Washington National Tax, KPMG US
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