The following article by Damian Paletta was posted on the Washington Post website November 20, 2017:
The House Republican tax plan would add $1.3 trillion to the national debt over a decade, even after accounting for new economic growth from the bill, according to a nonpartisan study released Monday.
The nonpartisan Tax Policy Center is the third outside group to conclude that the bill would add to the deficit, contradicting Republicans’ claim that the bill would effectively pay for itself via a surge in economic growth.
The Tax Policy Center found that the economic growth the bill would create would add $169 billion in additional tax revenue over the next decade. But that would be far outweighed by $1.436 trillion in revenue losses over the decade due to the bill’s tax cuts, leaving the bill with a net addition to the deficit of $1.266 trillion. Continue reading “House GOP tax plan would fall $1.3 trillion short of paying for itself, study finds”