GOP Tax Plan Would Add $1.7 Trillion to National Debt, CBO Reports

According to a new ABC News/Washington Post poll, Americans oppose the GOP tax plan by a margin of 17 points.

A new government analysis released Wednesday of the House GOP tax bill said its true costs to the nation's debt are at least $259 billion greater over the coming decade.

That's because of the interest costs the government has to absorb to borrow more money to keep the government running. That puts the debt cost of the measure at $1.7 trillion over 10 years.

The Congressional Budget Office study actually understates the measure's true cost since it's based on last week's version of the bill. An amendment added by Ways and Means Committee Republicans on Monday added $161 billion to the cost of the bill, mostly by watering down an international tax provision.

Follow WFMY News 2 on Facebook and Twitter

► Make it easy to keep up to date with more stories like this. Download the WFMY News 2 App now

 

 

© 2017 Associated Press


JOIN THE CONVERSATION

To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment
TRENDING VIDEOS