Economics
Treasury’s One-Page Report: Trump’s Plans Pay for Senate Tax Cut
- Study criticized for lack of rigorous analytical backing
- Report based on different rates for corporations, individuals
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The U.S. Treasury Department produced a one-page document Monday that it described as an “analysis of growth and revenue estimates” based on the Senate tax bill, but economists quickly called the document a political statement, not a rigorous economic study.
The 470-word report says only that the combined impact of President Donald Trump’s economic agenda -- including a regulatory rollback -- and tax cuts would drive enough growth to increase tax revenue by $300 billion over the next decade. Various other analyses have found that the tax cuts alone would increase federal deficits, by as much as $1 trillion.