An updated analysis by the nonpartisan Tax Policy Center concludes that the tax plan being written behind closed doors by Donald Trump and congressional Republican leadership would, in the long term, shrink U.S. economic growth.
This refutes claims made by Trump and administration officials – including a new Council of Economic Advisers report out today – who have promised that their tax proposal would result in American GDP growth of between 3-5%.
“The capstone of Donald Trump’s economic agenda – a backwards tax plan that would overwhelmingly benefit the wealthy and large corporations while raising taxes on millions of middle class families – would in fact reduce U.S. economic growth,” said American Bridge spokesperson Andrew Bates. “Delivering economic gains for American workers and families needs to be the number one focus of any tax legislation, and by that test this proposal fails spectacularly.”
“President Trump and his top aides have argued that the Framework would […]Read more after the jump.