Nope.
Tax cuts that will run up the debt.
LITERALLY what they discussed yesterday in a meeting with Congress.
In a closed-door meeting with House Leadership today President Trump reportedly outlined his tax priorities. According to press reports, they included extending the expiring pieces of the 2017 Tax Cuts and Jobs Act (TCJA); expanding the State and Local Tax (SALT) deduction; enacting tax breaks for goods made in America; cutting taxes on income from tips, overtime pay, and Social Security benefits; and eliminating tax breaks for carried interest and stadium owners.
Depending on the details of these proposals, our rough estimate is that a package of this nature would:
- Reduce revenue by $5.0 trillion to $11.2 trillion over ten years.
- Lower revenue by 1.3 to 3.0 percent of Gross Domestic Product (GDP).
- Boost debt to between 132 and 149 percent of GDP by 2035, if not offset, compared to nearly 100 percent today and 118 percent under current law.
Honestly, we would respect you more if you just admitted you are OK with kids dying in exchange for a tax break, regardless of its impact on the U.S. debt. Just lean into it and stop lying to others and perhaps yourself.