Trump Tax Cuts Would Cost More Than Almost All Federal Agencies
- Congress highly unlikely to pass Trump tax plans in full
- Campaign-trail tax vows total $10.5 trillion cost over decade
JD Vance and Donald Trump
Photographer: Emily Elconin/Bloomberg
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Republican nominee Donald Trump and running mate JD Vance are campaigning on a grab bag of tax cut proposals that could collectively cost as much as $10.5 trillion over a decade, a massive sum that would exceed the combined budgets of every domestic federal agency.
Even if Congress were to eliminate every dollar of non-defense discretionary spending — projected to be $9.8 trillion over the next 10 years — it still wouldn’t offset the estimated expense of the wide-ranging tax cuts Trump and Vance have floated in recent weeks.