Trump Was Poised To Inherit A Strong Economy. Then Things Got Rocky And He Added To The Uncertainty
3 months, 1 week ago

Trump Was Poised To Inherit A Strong Economy. Then Things Got Rocky And He Added To The Uncertainty

Huff Post  

LOADING ERROR LOADING WEST PALM BEACH, Fla. — The smooth economy that Donald Trump was poised to inherit suddenly looks a bit rockier — with critics saying the president-elect is contributing to the uncertainty. Trump vowed on social media Wednesday to “fight ’till the end” unless Democrats agreed to lift the debt ceiling as a condition for the short-term funding to keep the federal government open. pic.twitter.com/WkNs1JZfbx — CSPAN December 20, 2024 Democrats were also quick to seize on the seeming Republican dysfunction, with Rep. Suzan DelBene, D-Wash., saying, ”Trump’s made a lot of promises, but he’s also going to be accountable for the impact he’s having on families.” “I guess Elon Musk is making the decisions now, because Republicans in Congress are incapable of making decisions on their own,” DelBene said in an interview. They’re risks that the Fed didn’t get it right, risks that come with the clock — we’ve got to do the debt ceiling, we’ve got to fund the government.” In a speech this month at the Brookings Institution, Biden took stock of the roughly 3% economic growth and the inflation rate easing since its 2022 spike, saying Trump would come into office with a solid economy. On Thursday, the president-elect said on social media that the federal government “will cut Hundreds of Billions of Dollars in spending next year” in an effort to fund his tax cuts and limit deficits.

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History of this topic

Is Trump taking a ‘liquidationist’ approach to the economy?
2 weeks, 2 days ago

Is Trump taking a ‘liquidationist’ approach to the economy?

Live Mint  

During President Trump’s first term, stocks rode high on the belief that he would always pull back on policies that led to a selloff. Indeed, such views edge close to the “liquidationist" approach historically espoused by laissez-faire economists, and most infamously associated with former President Herbert Hoover’s Treasury secretary who advised him to let the economy fall. Trump and his …

'Going to bite him': Dem pundit wrecks Trump's handling of economy amid recession fears
2 weeks, 3 days ago

'Going to bite him': Dem pundit wrecks Trump's handling of economy amid recession fears

Raw Story  

Democratic strategist Maria Cardona issued a warning to President Donald Trump about his handling of the economy, telling CNN Monday that it will "come back and bite him." Trump had a chance to tamp down recession fears when asked by Fox Business Network's Maria Bartiromo on Sunday, but said only, "I hate to predict things like that. That's how much …

Recession ahead? Why the US economy is on shaky ground under Trump
2 weeks, 3 days ago

Recession ahead? Why the US economy is on shaky ground under Trump

Firstpost  

The US economy is facing growing recession fears as key indicators signal trouble ahead. There’s going to be no recession in America.” Lutnick also defended Trump’s aggressive trade policies, arguing that they would ultimately benefit the US economy by “unleashing American wealth across the world.” What role do tariffs and spending cuts play? Goldman Sachs recently raised its recession probability …

'Gagging on uncertainty': CNN reporter says Trump policies 'choking' the economy
3 weeks ago

'Gagging on uncertainty': CNN reporter says Trump policies 'choking' the economy

Raw Story  

Donald Trump's economic policies are creating chaos and confusion, and CNN's Matt Egan said it's only a matter of time until the uncertainty chokes the economy. The president's long-threatened tariffs against Canada, China and Mexico have sparked a trade war, but the Trump administration has granted one-month exemptions to automakers after their executives asked for a reprieve, and Egan reported …

America faces a Trumpian economic slowdown
3 weeks, 4 days ago

America faces a Trumpian economic slowdown

Live Mint  

“The golden age of America begins right now." In the six weeks since that chilly day, investors and economists have started to grapple with a less upbeat possibility: that his arrival in the White House is both causing and coinciding with a period of weakness for America’s economy. Even if Mr Trump again delays imposing levies on Canada and Mexico, …

Trump’s promised laundry list of tax goodies gets a reality check
Trending News
3 weeks, 6 days ago

Trump’s promised laundry list of tax goodies gets a reality check

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Senate preferred to pass two bills, with the first focusing on beefing up …

Opinion: If Trump aims to bring down prices, his policies will need to swerve
1 month ago

Opinion: If Trump aims to bring down prices, his policies will need to swerve

LA Times  

Many Americans who voted for President Trump in November hoped the cost of living would become more affordable. Now, core Consumer Price Index inflation remains at 3.3% year-over-year, well above the pre-pandemic norm and a full 65% higher than the Fed’s supposed target. As Hoover Institution economist John H. Cochrane has pointed out, when the Fed raises interest rates to …

Inflation helped Trump get elected. Now it’s his problem.
1 month, 2 weeks ago

Inflation helped Trump get elected. Now it’s his problem.

Live Mint  

Nothing did more to deliver the White House to Donald Trump than inflation, which helped to sour Americans on former President Joe Biden’s economy. The problem is that Trump has inherited inflation above the Federal Reserve’s 2% target, and his agenda risks keeping it there, making it harder to bring down interest rates. On social media Wednesday, Trump called for …

Trump has a plan to lower inflation. It’s just delayed
1 month, 2 weeks ago

Trump has a plan to lower inflation. It’s just delayed

CNN  

CNN — President Donald Trump made a campaign promise to lower prices on Day One. But the bad inflation report also depicts a difficult political reality for the new president: Prices aren’t falling now that Trump is in office; they’re actually rising faster. The Committee for a Responsible Federal Budget last week estimated Trump’s tax cuts would cost between $5 …

The US economy just had another robust year
1 month, 4 weeks ago

The US economy just had another robust year

CNN  

Washington CNN — Another year of robust economic growth is in the books, underscoring how the Biden administration handed President Donald Trump what many consider a solid economy. “The US consumer has been unstoppable, supported by wealth creation, a strong labor market, and lending.” The latest GDP report comes on the heels of the Federal Reserve’s latest policy decision announced …

Republicans crafting Trump’s big bill hit a familiar roadblock: How to pay for it
1 month, 3 weeks ago

Republicans crafting Trump’s big bill hit a familiar roadblock: How to pay for it

Associated Press  

DORAL, Fla. — After fours years of criticizing growing government deficits under Joe Biden, Republicans now have a math problem of their own — how to offset the multitrillion-dollar cost of extending and expanding the tax cuts they passed in President Donald Trump’s first term. Seeking to rally support in a speech Monday evening, Trump exhorted Republicans to stick together …

'Flashing a warning': Economist says Trump's plans leading to 'a terrible outcome'
1 month, 3 weeks ago

'Flashing a warning': Economist says Trump's plans leading to 'a terrible outcome'

Raw Story  

Most of Donald Trump's economic policies – such as tariffs, additional fiscal stimulus and mass deportations – are expected to add to inflation, according to a new analysis. The inflation rate has declined rapidly since peaking at 9.1 percent in the summer of 2022 but remains above the Federal Reserve’s target at 2.9 percent, and comments from the central bank's …

Economist slams Trump’s latest tax cut demand as 'major strategic error'
1 month, 3 weeks ago

Economist slams Trump’s latest tax cut demand as 'major strategic error'

Raw Story  

President Donald Trump on Monday urged the House of Representatives to renew his tax cuts. This comes as the GOP-controlled Congress attempts "to overcome internal differences on how to pay for" the president’s "sweeping tax cuts, with hardline conservatives determined to reduce an annual federal deficit approaching $2 trillion," according to Reuters. Aisha's Hanse, a senior national correspondent for Fox …

A critical look at Trump’s economic plans
2 months ago

A critical look at Trump’s economic plans

Live Mint  

The second presidency of Donald Trump is off to a wild start. He will get his way because Congress decades ago ceded much of its constitutional authority over tariffs to the president under the International Emergency Economic Powers Act of 1977. And hey, doesn’t economic growth near 3%, unemployment at 4% and inflation under 3% sound like an economic emergency …

Donald Trump's Second Term: 5 economic forces shaping his presidency
2 months ago

Donald Trump's Second Term: 5 economic forces shaping his presidency

India Today  

WASHINGTON: Like most presidents, Donald Trump faces an economy that seldom bends to political ambitions. Here are five economic forces that could shape the first year of Trump's presidency: For voters, the price still isn't right Whipping inflation is easier said than done. His analysis suggests that if Trump can preserve 3% growth he could extend his expiring 2017 tax …

5 economic forces that could shape the first year of Trump’s presidency
2 months ago

5 economic forces that could shape the first year of Trump’s presidency

Associated Press  

WASHINGTON — Like most presidents, Donald Trump faces an economy that seldom bends to political ambitions. Here are five economic forces that could shape the first year of Trump’s presidency: For voters, the price still isn’t right Whipping inflation is easier said than done. “But in broad terms, look at what he does and not what he says.” What happens …

Here’s why the cost of extending Trump’s tax cuts just surged by nearly $1 trillion
2 months, 2 weeks ago

Here’s why the cost of extending Trump’s tax cuts just surged by nearly $1 trillion

Raw Story  

If Congress doesn't act quickly to end the provisions in President-elect Donald Trump's 2017 Tax Cuts and Jobs Act, it could blow an even bigger hole in the federal budget. Nearly 40 provisions in the 2017 law are set to expire this year, and because Senate Majority Leader John Thune has already signaled that the Republican majority's first legislative priority …

Trump tax cuts, if made permanent, stand to benefit highest income earners, Treasury analysis shows
2 months, 2 weeks ago

Trump tax cuts, if made permanent, stand to benefit highest income earners, Treasury analysis shows

Associated Press  

WASHINGTON — At the very top of Republicans’ 100-day agenda with President-elect Donald Trump in the White House and GOP lawmakers in a majority is the plan to renew some $4 trillion in expiring tax cuts. On Friday, the U.S. Treasury released a new analysis of the various ways that extending the expiring individual and estate tax provisions of Trump’s …

Economists are worried Trump will cause 'rising inflation and slowing growth': report
2 months, 3 weeks ago

Economists are worried Trump will cause 'rising inflation and slowing growth': report

Raw Story  

President Joe Biden oversaw the United States economy's recovery from the global pandemic, which included lowering unemployment and a slow reduction in inflation. Fortune reported that more than 200 economists were questioned about the future of the U.S., and many confessed a fear of "rising inflation and slowing growth." In their report, the Financial Times and the University of Chicago …

The good, the bad and the uncertainty of the US economy under a Trump presidency
2 months, 3 weeks ago

The good, the bad and the uncertainty of the US economy under a Trump presidency

Live Mint  

What impact will the next US administration have on economic growth and inflation? The answer isn’t clear, because while some of President-elect Donald Trump’s proposed policies would boost growth and reduce inflation over time, while others will have the opposite effect. On the positive side of the ledger, Trump will be pro-business overall, and this fact alone could stimulate economic …

An analyst looks ahead to how the US economy might fare under Trump
3 months ago

An analyst looks ahead to how the US economy might fare under Trump

Associated Press  

WASHINGTON — President-elect Donald Trump won a return to the White House in part by promising big changes in economic policy — more tax cuts, huge tariffs on imports, mass deportations of immigrants working in the United States illegally. In some ways, his victory marked a repudiation of President Joe Biden’s economic stewardship and a protest against inflation. A: There’s …

Trump was poised to inherit a strong economy. Then things got rocky and he added to the uncertainty
3 months, 1 week ago

Trump was poised to inherit a strong economy. Then things got rocky and he added to the uncertainty

Associated Press  

▶ Follow live updates on federal funding negotiations as a government shutdown looms. Trump vowed on social media Wednesday to “fight ’till the end” unless Democrats agreed to lift the debt ceiling as a condition for the short-term funding to keep the federal government open. By Thursday, Trump was claiming on social media that a new deal reached among Republicans …

Trump isn’t president yet. He’s already spooking the Fed.
3 months, 1 week ago

Trump isn’t president yet. He’s already spooking the Fed.

Live Mint  

The Federal Reserve can no longer deny that it is beginning to think about what Donald Trump will do as president. These showed that Fed policymakers’ median expectation is now for inflation, as measured by the core personal-consumption expenditures index, to come in at 2.5% next year, up from September’s projection of 2.2%. “It’s hard to justify trimming the number …

Trump’s tax cuts expire soon − study shows devastating effect they had on many
3 months, 1 week ago

Trump’s tax cuts expire soon − study shows devastating effect they had on many

Raw Story  

By Beverly Moran, Professor Emerita of Law, Vanderbilt University The Tax Cuts and Jobs Act, a set of tax cuts Donald Trump signed into law during his first term as president, will expire on Dec. 31, 2024. Just like prior “trickle down” plans, Trump’s corporate tax cuts did not produce higher wages or increased household income. Stock market inequality Trump’s …

President-elect Trump promised to extend tax cuts, but how will the government make up a $4 trillion loss of revenue?
3 months, 2 weeks ago

President-elect Trump promised to extend tax cuts, but how will the government make up a $4 trillion loss of revenue?

NPR  

President-elect Trump promised to extend tax cuts, but how will the government make up a $4 trillion loss of revenue? SIMON: President-elect Trump promised to extend tax cuts he passed during his first term in office during this last campaign. JOSEPH ROSENBERG: They're really going to have to figure out if that's a price tag they're willing to swallow or …

Trump has a problem: America's economy is growing but so is its inflation
4 months ago

Trump has a problem: America's economy is growing but so is its inflation

Firstpost  

Even as the US economy grew by 2.8% in the third quarter, the inflation also grew by 1.9%, complicating the economic outlook that President-elect Donald Trump will inherit in January US President-elect Donald Trump has vowed to fix the United States. Inflation rises by 1.9% — complicating picture for Trump Even as the US economy grew 2.8 per cent year-on-year …

The rising price of paying the national debt is a risk for Trump’s promises on growth and inflation
4 months ago

The rising price of paying the national debt is a risk for Trump’s promises on growth and inflation

Associated Press  

WASHINGTON — Donald Trump has big plans for the economy — and a big debt problem that will be a hurdle to delivering on them. Trump has bold ideas on tax cuts, tariffs and other programs, but high interest rates and the price of repaying the federal government’s existing debt could limit what he’s able to do. In his statement …

"All bets are off": How Trump's economy could affect your money
4 months, 1 week ago

"All bets are off": How Trump's economy could affect your money

Salon  

Presidents don't have the ultimate say in how the economy performs. It is rarely the case that political rhetoric lines up with economic realities.” Most experts agree that if enacted, Trump’s changes could have a chaotic impact on the global economy and spark a rise in inflation and consumer prices, particularly if tariffs rise to the higher range he has …

7 ways a Trump administration could affect your finances
4 months, 1 week ago

7 ways a Trump administration could affect your finances

CNN  

CNN — President-elect Donald Trump promised Americans he’d bring down consumer prices, make health care more affordable and protect Social Security. “He will deliver.” Taxes The Trump administration is expected to focus on extending tax cuts introduced by the Tax Cuts and Jobs Act that are set to expire in 2025. Extending Trump’s 2017 tax cuts would lower taxes by …

The new Trump Trade looks scarier than the old one
4 months, 2 weeks ago

The new Trump Trade looks scarier than the old one

Live Mint  

Stocks notched their biggest week of the year after Donald Trump’s victory. Treasury yields, which rise when bond prices fall, climbed after Tuesday’s election, lifted by bets that a second round of Trump tax cuts will boost growth, inflation and budget deficits. Stocks and Treasury yields similarly surged eight years ago when Trump claimed his first electoral win—a major part …

Tariffs, tax cuts and deportations: What Trump’s policies could mean for America’s economy
4 months, 2 weeks ago

Tariffs, tax cuts and deportations: What Trump’s policies could mean for America’s economy

Firstpost  

Trump campaigned on promises to impose large tariffs on foreign goods, cut taxes for individuals and businesses, and deport millions of undocumented immigrants working in the United States. President-elect Trump has promised to dismantle many of the Biden administration’s policies, pledging substantial tariffs on imports, tax cuts for individuals and businesses, and a crackdown on undocumented immigrants working in the …

Frustrated Americans await the economic changes they voted for with Trump
4 months, 2 weeks ago

Frustrated Americans await the economic changes they voted for with Trump

Associated Press  

WASHINGTON — Fed up with high prices and unimpressed with an economy that by just about any measure is a healthy one, Americans demanded change when they voted for president. Trump policies could boost inflation The Peterson Institute for International Economics, a leading think tank, has estimated that Trump’s policies would slash the U.S. gross domestic product — the total …

'Wrong direction': CNN analyst says Trump win is already hitting Americans in the pocket
4 months, 2 weeks ago

'Wrong direction': CNN analyst says Trump win is already hitting Americans in the pocket

Raw Story  

President-elect Donald Trump's imminent ascent to the White House is already making it more difficult for Americans to buy homes, an economic analyst says. Home loan interest rates have seen an steep uptick to a 6.8 percent average for 30-year fixed mortgages as the bonds market prepares for Trump's economic policies, CNN business reporter Matt Egan said Thursday. Those plans …

A 'Trump economy' robs from the American people to enrich the elite
5 months ago

A 'Trump economy' robs from the American people to enrich the elite

LA Times  

If Donald Trump retakes the White House, he would resume serving billionaires such as Vladimir Putin. Believing Donald Trump will be better for the economy than Vice President Kamala Harris is like thinking you’re a dinner guest when you’re actually the main course. When Trump slashed the corporate tax rate, his Council of Economic Advisers promised American workers would see …

Expert: Analysis shows Trump tax plan "taking money" from bottom 95% and "giving it" to richest 5%
5 months, 2 weeks ago

Expert: Analysis shows Trump tax plan "taking money" from bottom 95% and "giving it" to richest 5%

Salon  

Former President Donald Trump's proposed tax plan would create tax cuts for the nation's top 5% of earners while leaving the rest of Americans to shoulder tax increases by 2026, according to a new analysis. We need your help to stay independent Subscribe today to support Salon's progressive journalism The income tax exemptions, green-energy credit repeals and 2017 tax law …

Donald Trump Tax Plans Would Increase Taxes On 95% Of Americans, Analysis Finds
5 months, 2 weeks ago

Donald Trump Tax Plans Would Increase Taxes On 95% Of Americans, Analysis Finds

Huff Post  

LOADING ERROR LOADING Former President Donald Trump’s domestic policy agenda would amount to a tax increase on the vast majority of American households, according to a new analysis by a Washington, D.C., think tank, thanks largely to his proposed tariffs on imported goods. “We’re doing tariffs on other countries.” The conservative Tax Foundation has said Trump’s tariffs would essentially be …

Trump's plan would add $4 trillion more to U.S. debt compared to Harris', analysis says
5 months, 3 weeks ago

Trump's plan would add $4 trillion more to U.S. debt compared to Harris', analysis says

NPR  

Trump's plan would add $4 trillion more to U.S. debt compared to Harris', analysis says toggle caption Saul Loeb/AFP via Getty Images With less than a month left until Election Day, both the Harris and Trump campaigns have presented their economic visions to the American people — including proposed tax cuts, border security spending and affordable housing policies. Trump's estimated …

Trump’s promises would spike inflation and wipe out jobs, study finds
6 months ago

Trump’s promises would spike inflation and wipe out jobs, study finds

CNN  

CNN — Former President Donald Trump has promised to attack the United States affordability crisis by imposing immense tariffs, carrying out unprecedented deportations and even influencing interest rate decisions. A loss of Fed independence would cause “permanently higher inflation” that “leads to ever-increasing prices across the US economy,” the paper said. At an event in Michigan last week, Trump praised …

Trump says he’ll boost the economy by cutting federal spending and corporate taxes
6 months, 3 weeks ago

Trump says he’ll boost the economy by cutting federal spending and corporate taxes

LA Times  

Donald Trump speaks at a campaign event at the Economic Club of New York on Thursday. Former President Trump told a group of executives and industry leaders on Thursday that he wants to lead a “national economic renaissance” by slashing regulations to boost energy production, embracing cryptocurrencies and drastically cutting government spending as well as corporate taxes for companies that …

'Explosive path': Experts say 'expensive' Trump tax plan will add $5.8 trillion to deficit
6 months, 3 weeks ago

'Explosive path': Experts say 'expensive' Trump tax plan will add $5.8 trillion to deficit

Raw Story  

Donald Trump's tax plan for a second potential term as president would be much more expensive than the one proposed by Vice President Kamala Harris, according to experts. "Former President Donald Trump would seek to extend the tax cuts enacted through the Tax Cuts and Jobs Act, his signature 2017 legislation that reduced taxes for most Americans, although research has …

The Trump economy: Slower growth, higher prices and a bigger national debt
8 months, 1 week ago

The Trump economy: Slower growth, higher prices and a bigger national debt

Al Jazeera  

Plans to hike tariffs, tighten immigration and cut taxes are likely to crimp growth and fuel inflation, experts say. “A tariff increase covering nearly all goods imports, as Trump recently proposed, goes far beyond any previous action,” Moody’s Analytics said in its report. “There are three main tenets of Trump’s campaign, and they all point in the same inflationary direction,” …

Trump’s economic plans include proposed tariffs, tax cuts and no taxes on tips. Details are scarce
8 months, 1 week ago

Trump’s economic plans include proposed tariffs, tax cuts and no taxes on tips. Details are scarce

Associated Press  

WASHINGTON — The first night of the Republican National Convention kept its official focus on the economy Monday even after Saturday’s shooting at a rally in Pennsylvania in which former President Donald Trump was injured. The platform would address illegal immigration in part with the “largest deportation program in American history.” And Trump would also scrap President Joe Biden’s policies …

Opinion: Trump's claims about the economy in the debate will be lies
9 months ago

Opinion: Trump's claims about the economy in the debate will be lies

LA Times  

Expect the economy to be debated by President Biden and former President Trump on Thursday. Spoiler alert: “Bottom line, in their totality, Biden’s policies are better for the economy than Trump’s,” Moody’s chief economist Mark M. Zandi told me. Moody’s projects that after Trump’s recession, the economy would return to growth late in his second term, for average annual growth …

Nobel prize economists warn a Trump win will lead to even higher inflation
9 months ago

Nobel prize economists warn a Trump win will lead to even higher inflation

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A group of Nobel Prize-winning economists issued a stark warning …

'Trump inflation bomb' coming should he win second term: Nobel Prize-winning economists
9 months ago

'Trump inflation bomb' coming should he win second term: Nobel Prize-winning economists

Raw Story  

16 Nobel Prize-winning economists have warned that former President Donald Trump's second-term agenda could create what Axios is describing as an "inflation bomb" that would rock the global economy. In a letter, the economists argue that a combination of more tax cuts for corporations, a labor shortage caused by the mass deportation of undocumented immigrants, and looser monetary policy in …

Trump tries to woo billionaire CEOs with promise of another round of tax cuts: report
9 months, 2 weeks ago

Trump tries to woo billionaire CEOs with promise of another round of tax cuts: report

Raw Story  

Former President Donald Trump is trying to push the billionaire businessman class back into his camp with a promise of another round of corporate tax cuts, this time reducing the rate from 21 percent to 20 percent. According to The New York Times, "Mr. Trump made the remarks from a comfortable gray armchair during a conversation with his former economic …

Use Expiring Trump Tax Cuts To Overhaul The Entire Tax System, Groups Say
10 months ago

Use Expiring Trump Tax Cuts To Overhaul The Entire Tax System, Groups Say

Huff Post  

LOADING ERROR LOADING The $4.6 trillion in tax cuts that expire next year offer a chance to completely revamp the U.S. tax system that should not be missed, more than 100 progressive and economic groups said Tuesday. “Congress should pursue reforms — including corporate tax reforms — that stem the decades-long tide of tax cuts for the rich and corporations …

Many remember solid economy under Trump, but his record also full of tax cut hype, debt and disease
10 months, 1 week ago

Many remember solid economy under Trump, but his record also full of tax cut hype, debt and disease

Associated Press  

WASHINGTON — It was a time of fear and chaos four years ago. DECENT GROWTH Trump assured the public in 2017 that the U.S. economy with his tax cuts would grow at “3%,” but he added, “I think it could go to 4, 5, and maybe even 6%, ultimately.” If the 2020 pandemic is excluded, growth after inflation averaged 2.67% …

Extending Trump tax cuts would add $4.6 trillion to deficit: CBO
10 months, 2 weeks ago

Extending Trump tax cuts would add $4.6 trillion to deficit: CBO

Raw Story  

As former U.S. President Donald Trump and congressional Republicans campaign on extending their 2017 tax cuts if elected in November, a government analysis revealed Wednesday that doing so would add $4.6 trillion to the national deficit. The new CBO report—sought by U.S. Senate Budget Committee Chair Sheldon Whitehouse and Senate Finance Committee Chair Ron Wyden —says continuing the income, business, …

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