source - By Tokentopnews.com
The IMF warns that Trump's tax law could eventually worsen the U.S. budget deficit by $3.3 trillion. The law, enacted in previous years, aimed to lower tax rates but may lead to an increase in debt levels.
IMF representative Julie Kozak emphasized the need to reduce government borrowing. Kozak noted that the current legislation seemingly contradicts ongoing efforts to achieve mid-term goals for reducing U.S. debt.
Economic experts express concern about the financial health of the United States. The Congressional Budget Office's forecasts regarding the increasing deficit highlight the potential long-term impact of tax cuts.
The cryptocurrency market did not demonstrate any immediate significant changes in value following the IMF warning. No official statements have been made by major blockchain organizations or cryptocurrency exchanges regarding the tax legislation.
Models of stablecoin inflow remain unchanged, with no immediate reaction observed. Compressed timelines for economic assessments create uncertainty for future cryptocurrency movements, which have historically correlated with changes in fiscal policy.
Historical precedents suggest that U.S. fiscal instability may influence cryptocurrency trends. During periods of dollar weakness, there has been an increased inflow of crypto assets, which is a potential signal of disruptions if current fiscal policy persists.
Julie Kozak, IMF spokesperson, stated, 'The Senate bill, according to the CBO, increases the deficit by $3.3 trillion and contradicts efforts aimed at reducing federal debt in the medium term.'
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