WASHINGTON - March 24 -

WHAT: Center on Budget and Policy Priorities Conference Call: Budget Watchdogs Urge Rejection of Gimmick to Pay For Tax Cut

WHEN: Tuesday, March 28 at 11 a.m. (EDT)

Register: http://www.cbpp.org/confcall.htm

WHO:

-- Robert Bixby, Executive Director, The Concord Coalition

-- Robert Greenstein, Executive Director, Center on Budget and Policy Priorities

-- Maya MacGuineas, President, Committee for a Responsible Federal Budget

-- Joseph Minarik, Senior Vice President, Director of Research Committee for Economic Development

Four budget watchdog groups with diverse outlooks will hold a joint conference call briefing Tuesday, March 28 at 11 a.m. (ET) in opposition to a budget gimmick being considered by lawmakers charged with working out the differences between House- and Senate-passed versions of the tax reconciliation bill.

The Center on Budget and Policy Priorities, the Committee for Economic Development, the Committee for a Responsible Federal Budget, and the Concord Coalition will issue a joint statement urging lawmakers to reject the use of the gimmick - which would have one tax cut appear to pay for another tax cut -- to circumvent a Senate rule intended to prevent reconciliation legislation from increasing long-term deficits. (The rule applies to legislation that would increase entitlement spending as well as to legislation that would cut taxes.) The proposal under consideration would induce taxpayers to move savings from traditional IRAs to Roth IRAs, which would generate revenues in the short run, but reduce revenues and increase deficits after 2015.

Representatives of the four groups will make brief remarks to explain the proposed gimmick lawmakers are considering and why the use of such a gimmick is bad for fiscal discipline.

After opening remarks, the panelists will take questions.

To participate, please register by e-mailing bazie@cbpp.org, or calling the media team at 202-408-1080. Register on-line at http://www.cbpp.org/confcall.htm.

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