U.S. Treasury Secretary Steven Mnuchin insisted on Wednesday that President Donald Trump's tax cuts will still pay for themselves over 10 years, even as the administration forecasts near-term deficits close to $1 trillion. Mnuchin told the Senate Finance Committee that the administration was two
WASHINGTON - U.S. Treasury Secretary Steven Mnuchin insisted on Wednesday that President Donald Trump's tax cuts will still pay for themselves over 10 years, even as the administration forecasts near-term deficits close to $1 trillion.
"Our analysis has always been higher than CBO. As I've said previously, we believe that the tax cuts will pay for themselves over a 10-year period of time, it's how we score them," Mnuchin said. The administration's economic forecasts are far rosier than those of the CBO, many private economists and the International Monetary Fund, which predict fading stimulus from the tax cuts and constraints from an aging U.S. workforce.
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