#TrumpTaxCuts

TrumpTaxCuts Extend Tax Cuts and Jobs Act of 2017 (TCJA) will reduce federal tax revenue by $4.5 trillion from 2025 to 2034. Long-term GDP will increase by 1.1 percent, offsetting $710 billion, or 16 percent, of the revenue loss. Long-term GNP (a measure of American income) will only increase by 0.4 percent, as some benefits from the tax cuts and greater economy will be received by foreigners in the form of higher interest payments on debt.