The Senates Official Scorekeeper Says The Republican Tax Plan Will Add $1 Trillion to the Deficit

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Senate Republicans’ $1.5 trillion tax cut would not “pay for itself” according to a report released on Thursday by the nonpartisan Joint Committee on Taxation. The report is a significant setback for Republicans, who have asserted that the tax cuts would grow the economy enough to cover the cost of the plan.

The report of the committee, Congress’s official tax scorekeeper, is the latest in a number of analyses that have found that the cuts could add a significant chunk to federal budget deficits, a move that would seem counter to years of Republican criticism of the deficits accumulated under the Obama administration.

In the Congressional Budget Office’s analysis of the Senate tax bill, the cuts would add $1.414 trillion to the deficit by 2027. That estimate does not include the amount that would be offset by the economic growth spurred by tax cuts.

Some Senate Republicans have expressed concerns about their bill’s deficits. Senator Bob Corker of Tennessee, who voted Tuesday to advance the bill through a budget committee, is pushing to include in the final legislation some kind of safeguard that would trigger automatic tax increases or spending cuts if economic growth fails to cover the cost.

https://www.nytimes.com/interactive/2017/11/28/us/politics/tax-bill-deficits.html

[Iliyah]

1. And they do not care.

Orrin Hatch told the media that they did not have enough funds to continue with CHIP. That's it in a nutshell. Fuck the middle and poor class, the .01 needs mo money.