marty sullivan has written about this feature of the estimates. now, i think it has some policy implications for whether you want to do that type of reform although there's many other factors to consider. what i want to emphasize here for a moment is the implications for what we're going to get as we start to do dynamic scoring which is we're going to see the different kind of tax measures, different kind of tax cuts and tax increases actually do have different effects and i think that's one of the important contributions that an analysis can make. it's not to make all tax cuts look good or all tax increases look bad but to sort out which types of tax cuts have the biggest effects on growth. so things like taxes that apply to old capital and taxes that apply to new investment distinguishing that is very important. so another thing that drew my attention also pertains to the effects of rate reduction offset by the labor supply. jane has already talked about this some. some of the estimates that jct found show what i view as a very large labor suppl

little bit like this person will say this and then this person will say the predictable thing and marty sullivan will say this and bob mcintyre will say that jane gravelle will say this. we would not have alluded about today, but our goal today was to move a little bit beyond the conversation about whether dynamic scoring is even the best thing to ever happen to washington or the worst thing to ever happen to washington, and to instead focus on little more on what is it actually mean and how do you do it. and this is of course newly relevant because of the house rule which i printed out and forgot to bring down but which requires the joint tax committee which does taxes, and the congressional budget office, which despite what some people think does not score taxes to take into account the macroeconomic effects of policies and their feedback effects on revenues. and this is hard. are a lot of people think it's long overdue. there some people who think that it will lead to bad fiscal policy over time. what we're going to focus on today is exactly how can we be done, what assumptions you would have

to be working with bob sullivan his storied poster but officially on the official side was working in the statistics office, with dick story, a former reporter in new york city martyan, to have tim russert walk into the room. we all died because tim russert just walked into the room. i can remember in 1986 when i was elected to the state assembly, how support i mario cuomo was to me as a young man recommending me to travel around the world with acypl, to come here to washington to get my feet wet as well, to get that washington sense. i remember being on the second floor in 1988 in the blue room, it's known as the blue room where the governor would give his budgets, anticipating his delving into, diving into the 1988 presidential elections, only to have my heart broken when mario cuomo said he would not run in that election. mario cuomo was tough, yet had one of the biggest hearts i have ever come to know. he had also gone to law school, my uncle walter, and there was an intimacy between the crowleys and the cuomo family in queens family politics one that exists to this day with his son andrew as governor and my family as well. mario cuomo always did the right thi