Tax Cuts to Cost $1 Trillion After Growth, Official Study Finds

The tax changes that President Donald Trump signed into law will reduce federal revenue by more than $1 trillion over the next decade, even after accounting for their beneficial effects on the U.S. economy, according to Congress’s tax scorekeeper.

That finding by the nonpartisan Joint Committee on Taxation runs counter to arguments advanced by the Trump administration and by congressional Republicans, who’ve argued that their package of tax cuts would stimulate enough economic growth to pay for itself.