06-12-2019, 05:21 PM
Not self-financing but adding significantly to the debt:
Quote:If they had paid attention to several estimates published around the bill’s passage, the fact that the bill, which largely focused on tax cuts for corporations and the wealthy, actually lowered federal revenue would not have been a surprise. The Joint Committee on Taxation estimated in December 2017 that the bill would add $1.5 trillion to the deficit over 10 years. Trump’s own Treasury Department acknowledged a $1 trillion budget hit even with wildly optimistic assumptions of economic growth. The Congressional Budget Office estimated in May 2018 that the law would add $1.9 trillion over the same period when taking into account $600 billion in debt service costs and a projected $550 billion increase in tax revenue..Top Republican admits the GOP tax bill was mostly a lie – ThinkProgress