While the previous estimate
Posted: Sat Apr 05, 2025 7:25 am
Dems tout new official estimate showing GOP tax cuts could be costlier than anticipated
The numbers from the Joint Committee on Taxation add to Democrats’ talking points and could give GOP deficit hawks more heartburn.
Democrats are wielding new official projections showing the price tag for extending Republicans’ expiring tax cuts could reach a bigger-than-expected $4.6 trillion.
And if Republicans decide not to pay for any of that, it would mean an phone number library additional $871 billion in interest payments, bringing the all-in cost to $5.5 trillion.
That’s up from a previous estimate of $4 trillion, or $4.6 trillion if debt service is included.
The numbers, which come as Republicans try to agree on a fiscal plan that will allow them to tee up sweeping tax legislation, come with some caveats.
The projections, requested by Democrats, cover an 11-year period running through 2035, was over a decade, which makes the costs higher. And Democrats asked the nonpartisan Joint Committee on Taxation to make various assumptions about how Republicans would structure some business tax breaks.
The numbers from the Joint Committee on Taxation add to Democrats’ talking points and could give GOP deficit hawks more heartburn.
Democrats are wielding new official projections showing the price tag for extending Republicans’ expiring tax cuts could reach a bigger-than-expected $4.6 trillion.
And if Republicans decide not to pay for any of that, it would mean an phone number library additional $871 billion in interest payments, bringing the all-in cost to $5.5 trillion.
That’s up from a previous estimate of $4 trillion, or $4.6 trillion if debt service is included.
The numbers, which come as Republicans try to agree on a fiscal plan that will allow them to tee up sweeping tax legislation, come with some caveats.
The projections, requested by Democrats, cover an 11-year period running through 2035, was over a decade, which makes the costs higher. And Democrats asked the nonpartisan Joint Committee on Taxation to make various assumptions about how Republicans would structure some business tax breaks.