Trump’s Tax Bill Would Add $3.3 Trillion to National Debt

“The centerpiece of President Donald Trump’s second-term legislative agenda would add $3.3 trillion to the national debt over 10 years, Congress’s nonpartisan bookkeeper reported Tuesday, when taking into account interest costs and the changes it would spell in the economy,” the Washington Post reports.

Wall Street Journal: “CBO’s analysis of the House-passed bill undercuts one of Republicans’ main arguments for the legislation. The bill’s authors have argued that critics are ignoring the economic boom that the tax cuts and President Trump’s other policies would create. That larger, faster-growing economy, they contend, would throw off enough extra tax revenue to cover the $2.4 trillion gap between the bill’s tax cuts and spending cuts.”

“The new CBO estimate says the opposite would happen. The bill would, effectively, un-pay for itself.”