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Tags: Trump | Tax Cuts | Discussions

Politico: Trump Officials Discussing Tax Cuts That Aren't Paid For

Politico: Trump Officials Discussing Tax Cuts That Aren't Paid For

(AP)

By    |   Wednesday, 25 January 2017 07:30 AM EST

Trump administration officials and congressional Republicans are discussing major tax cuts without offsetting revenue hikes, Politico reports.

The idea threatens to increase the deficit, the website noted.

Sen. Rand Paul, R-Ky., has told administration officials that tax cuts without revenue hikes would spark economic growth, according to Politico. It is a proposal which has gained the support of conservative groups like Heritage Foundation, Politico said.

"I think the government should be smaller, and I'm for tax cuts and spending cuts that reduce the overall size of the government," Paul told Politico. "Trump's (campaign) tax cut was large and not 'revenue-neutral.' I support what Trump ran on."

But the website noted any such proposal would likely meet stiff opposition in Congress since any plan that increases the deficit would need Democratic support in the Senate.

It comes at a time when President Trump is looking to increase military spending, come up with money to fund a massive infrastructure package and build a wall on the Mexican border.

Politico noted that funding Trump's proposals, while cutting taxes at the same time, could add to the nearly $19 trillion debt.

But The Hill reports Trump officials are already looking to cut overall government spending.

One plan being looked at would reduce federal spending by $10.5 trillion over 10 years, the website noted.

© 2022 Newsmax. All rights reserved.


Politics
Trump administration officials and congressional Republicans are discussing major tax cuts without offsetting revenue hikes, Politico reports.
Trump, Tax Cuts, Discussions
219
2017-30-25
Wednesday, 25 January 2017 07:30 AM
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