And unlike tax-cut triggers, sequesters can work. During Reagan's second term, a modest sequester required by the Gramm-Rudman Deficit Reduction Act significantly slowed the growth rate of federal spending. Delaying tax cuts is a bad idea. Making tax cuts conditional on other events is even worse. And imposing an automatic tax increase is the worst idea of all.
Triggers are a way of dampening the economic benefit of tax cuts.
President Bush shouldn't let his tax cut be sabotaged by those who want his program to fail. Ltd. All rights reserved. Reproduction in whole or in part without permission is prohibited.