When Congress considers legislation, nonpartisan agencies provide estimates of the law’s potential economic effects to policymakers, a process known as “scoring.” In recent decades, analysts at the Congressional Budget Office and Joint Committee on Taxation have developed models that incorporate complex feedback effects, going beyond conventional scoring techniques. These “dynamic scoring” methods can produce significantly different estimates of a law’s economic impact, but there are tradeoffs in applying them in different policy areas. On this episode Doug Elmendorf and Glenn Hubbard join Wendy Edelberg, director of The Hamilton Project, for a discussion on the costs and benefits of dynamic scoring.
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