Economics
Trump’s Plan Can Cut Taxes, But Only Temporarily
- OMB director says deficits aren’t driving tax discussions
- Mnuchin throws support behind contentious ‘dynamic scoring’
Mulvaney Willing to Trade Health Payments for Wall Money
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President Donald Trump has promised a “massive” tax cut for Americans. He may be able to achieve it -- but only temporarily, if the changes can’t meet the criteria needed by lawmakers to make permanent changes.
News that Trump’s plan isn’t likely to include a border-adjusted tax, or BAT, suggests his proposed tax measures won’t meet the standard of revenue neutrality. That’s because the border tax that House Speaker Paul Ryan has proposed would generate more than $1 trillion in revenue over a decade, helping to pay for individual and corporate rate cuts.