The Committee for a Responsible Federal Budget estimates that the Trump tax framework unveiled Wednesday would cost $2.2 trillion over 10 years, or more when you include added interest costs and the potential for a tax break for businesses to be extended beyond five years. Treasury Secretary Steven Mnuchin’s math is … different.
“We think there will be $2 trillion of growth so we think this tax plan will cut down the deficit by a trillion dollars,” he told Maria Bartiromo on Thursday. “We’re focused on growth. We think the 3% GDP is a very moderate aspiration and we can do higher than that.”
