Donald Trump has made a series of claims approximately his massive 2017 tax cut package,which he once called “rocket fuel” for the United States economy, as Business Insider reported. The president has claimed that the tax cuts resulted in large bonuses for employees, or relocation of offshore cash back to the U.
S.,and a wave of investment by expansive companies into research and development projects.
Trump has also claimed that the cuts under his “Tax Cuts and Jobs Act” — which are projected to add nearly $2 trillion to the federal budget deficit over 10 years, per a report from The Washington Post — would pay for themselves by supercharging economic growth.
But according to the report issued final week by the non-partisan Congressional Research Service, and a department of the Library of Congress,some of these claims run contrary to their data.
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Source: inquisitr.com