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Two respected organizations release analysis with same conclusion – Tax Bill will increase deficit

Tax Foundation – Preliminary Details and Analysis of the Tax Cuts and Jobs Act, December 18, 2017″…Overall, the plan would decrease federal revenues by $1.47 trillion on a static basis and by $448 billion on a dynamic basis. The remaining difference is explained by temporary dynamic revenue growth from the bill’s numerous expiring provisions…”

Committee for a Responsible Federal Budget – Final Tax Bill Could End Up Costing $2.2 Trillion, December 18, 2017: “The final conference committee agreement of the Tax Cuts and Jobs Act (TCJA) would cost $1.46 trillion under conventional scoring and over $1 trillion on a dynamic basis over ten years, leading debt to rise to between 95 percent and 98 percent of Gross Domestic Product (GDP) by 2027 (compared to 91 percent under current law). However, the bill also includes a number of expirations and long-delayed tax hikes meant to reduce the official cost of the bill. These expirations and delays hide $570 billion to $725 billion of potential further costs, which could ultimately increase the cost of the bill to $2.0 trillion to $2.2 trillion (before interest) on a conventional basis or roughly $1.5 trillion to $1.7 trillion on a dynamic basis over a decade. As a result, debt would rise to between 98 percent and 100 percent of GDP by 2027.

Once again for reference, the GOP Tax Bill – Conference Report [the House is expected to pass this bill on December 19, 2017] – is here:

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