Trumps tax bill math is off by trillions

[J_William_Ryan]

2. "Monday's calculations from the

Penn Wharton Budget Model — which also projects that the bill would increase the national debt by 7.2% in 10 years — come on the heels of similar numbers from other groups.

The Joint Committee on Taxation, the Congressional Budget Office (CBO), Moody’s (which downgraded the US credit rating as a result), and the Committee for a Responsible Federal Budget (CRFB) have all reported similar findings.

The CRFB also looked at what might happen if temporary but politically popular cuts in the bill are extended and found that the costs in that case could balloon even further to more than $5.2 trillion.

Another look at the tax pieces of the bill from Congress's Joint Committee on Taxation found that section of the bill alone is set to cost over $3.8 trillion if enacted. That's split between $7.7 trillion in tax cuts and $3.9 trillion in tax-specific offsets.”

Legislation both fiscally irresponsible and harmful to millions of Americans – Republicans are in capable of sound, responsible governance.