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Senate tax bill would add trillions to deficits
The CBO estimates the Senate version of Trumps tax and spending plan would widen deficits by about 3.3 trillion over ten years. It projects 4.5 trillion in revenue cuts against a current law baseline and 1.2 trillion in spending reductions, with a 507.6 billion cost under a current policy baseline. The measure extends the 2017 tax cuts and includes various spending cuts and tax changes. Republicans use a current policy baseline to bypass standard rules, a point of contention for fiscal conservatives and Democrats alike.
MENTIONED IN THIS ARTICLE
Senate
Donald Trump
U.S
Congressional Budget Office
CBO
Joint Committee On Taxation
GOP
House
Trump
White House
Markwayne Mullin
R-Okla
Thom Tillis
Rn.c
Tillis
North Carolina
Truth Social
Lisa Murkowski
Alaska
Susan Collins
Maine
Rand Paul
JD Vance