Nov 9, 2017

GOP Tax Cuts Would add $1.7 Trillion to Deficit

GOP tax cut plan would add $1.7 trillion to the deficit, CBO (Congressional Budget Office) projects

  • The amended House Republican tax plan will increase budget deficits by $1.7 trillion over 10 years, according to the CBO.
  • It will also cause U.S. debt to rise more than current projections, the CBO said.
  • The House is looking for other ways to raise revenue to offset tax cuts.

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About the CBO