As President Trump and Republican leaders in Congress prepare to unveil their tax plan on Wednesday, Sept. 27, Americans for Tax Fairness has prepared an analysis that shows Trump’s tax cuts could total $6.7 to $8.3 trillion, $3 to $5 trillion of which may not be paid for by closing other tax loopholes and/or by limiting tax deductions. The resulting jump in the deficit threatens funding of Social Security, Medicare, Medicaid, public education and other vital services. This analysis is based on recent media reports identifying possible tax cuts under consideration by the “Big Six” of Trump Administration and Congressional negotiators, and on the tax-cutting priorities President Trump and House Republican leaders have emphasized in tax plans unveiled over the past year.
— source americansfortaxfairness.org | Sep 27, 2017