Senate tax reform bill would add $1.4 trillion to deficits, economic analysis isn't available yet: CBO

[WestVirginiaRebel]

Washington Examiner

Congress' official budget office said Sunday an analysis of how the Senate Republican tax bill would affect the American economy isn't available yet, even as the GOP hopes to vote on the bill this week.

The Congressional Budget Office published an analysis of the Tax Cuts and Jobs Act finding it would add roughly $1.4 trillion to federal deficits over a decade, in line with earlier estimates of the bill's cost produced as it moved through committee earlier this month.

 

A macroeconomic score of the bill would provide a benchmark for a key claim of the Trump administration and congressional Republicans — that the tax overhaul will partly or wholly pay for itself by stoking faster economic growth.

Some Senate Republicans, such as Sen. Bob Corker of Tennessee, have said they will not vote for the bill unless credible analysis suggests it won't add to the deficit, once the possibility of faster economic growth is taken into account.

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Tax dollars for deficits?