Trump Tax Priorities Outlined
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Fiscal ImpactCommittee for a Responsible Federal Budget
•US Politics
US Politics
Trump Tax Priorities Total $5 to $11 Trillion | Committee for a Responsible Federal Budget
77% Informative
President Trump reportedly outlined his tax priorities in a closed-door meeting with House Leadership today .
Committee for a Responsible Federal Budget estimates total $5.0 trillion to $11.2 trillion over ten years .
Cutting taxes on tips, overtime pay, and Social Security benefits would reduce revenue by 1.3 to 3.0 percent of GDP.
Tax cuts could raise $20 to $100 billion over a decade enough to cover 0.2 to 1.8 percent of tax cuts, authors say.
Authors: Without offsets, debt under this proposal would rise from 100 percent of GDP at the beginning of 2026 to 132 percent .
They say the proposals would send federal debt to levels unprecedented in our history within a few years .
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