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Bipartisan analysis shows GOP tax plan would add $1 trillion to deficit

Credit: Architect of the Capitol(WASHINGTON) -- The bipartisan Joint Committee on Taxation released a report on Thursday indicating that the Republican tax reform proposal currently being debated in the Senate would raise the deficit by $1 trillion over the next ten years.

The JCT analysis included a "dynamic score," which takes into account future growth. The report concludes that the bill would not, as some Republicans have claimed, pay for itself.

Sen. Chuck Grassley, R-Iowa, downplayed the report in an interview on CNBC, calling it a conservative estimate of future growth.

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Author: Louis Milman

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