The Trump administration and congressional Republicans unveiled a “unified framework” for tax reform on Wednesday, kicking off what promises to be a heated debate on overhauling the U.S. tax code. And a preliminary estimate suggests that the tax plan could blow a huge hole in the already unsustainable national debt.
President Trump’s first full budget was unveiled yesterday. It has the worthy goal of reducing the national debt as a share of the economy, but how it gets there needs more work.
The tax reform outline recently released by the White House is very light on details. As the holes are filled in, here is what should be built on and what needs to be drastically improved.
The release of President Trump’s outline for tax reform put the issue at the top of the agenda. Now policymakers need to figure out how to do it responsibly. Fortunately, there are principles to guide the way.
President Trump’s new budget outline lacks many details and doesn’t cover most government spending.
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