Economists Dispute Mnuchin’s Claim of Tax Plan’s Deficit Cut
- Treasury chief says 3% growth ‘very, very doable’ under plan
- Vice president promises ‘across the board’ cuts in speech
Sen. Toomey Says Tax Reform Creates Sustainable Growth
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Treasury Secretary Steven Mnuchin said the Republican tax plan unveiled this week will cut the U.S. deficit by $1 trillion, a claim disputed by most economists surveyed by Bloomberg News.
The Trump administration’s tax plan “will not only pay for itself, but it will pay down debt” by generating $2 trillion in additional revenue, Mnuchin said Thursday. Vice President Mike Pence also hit the road Thursday to begin selling the proposal, saying at a speech in Michigan that the plan would create manufacturing jobs.