Republicans Reveal Trump Tax Plan Will Cost US $4.5 Trillion

he Republican House Budget resolution out Wednesday reveals the Ways and Means Committee will get $4.5 trillion to lock in tax cuts, one of President Donald Trump's major proposals.

The GOP also seeks an increase in the debt limit by $4 trillion, the resolution says.

The plan, which includes a substantial increase in the debt limit, highlights the party's commitment to making permanent the tax cuts enacted during the Trump administration.

https://www.newsweek.com/republicans-reveal-trump-tax-plan-will-cost-us-45-trillion-2030024

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The Trump Tax Cuts 2018 Worked (As a Scam)

Republicans said the reform would grow the economy by up to 6 percent, stimulate business investment, and pay for itself. None of that happened.--Business investment declined, dragging down economic growth. And the federal deficit exceeds $1 trillion.

Trump’s trade policies have cost thousands of U.S. manufacturing jobs

Trump administration’s overall weak trade agenda, COVID-19—and that administration’s mismanagement of the crisis—has wiped out much of the last decade’s job gains in U.S. manufacturing.

Nearly 1,800 factories have disappeared under Trump between 2016 and 2018,

DEBT AND DEFICIT

Trump Built a National Debt So Big (Even Before the Pandemic) That It’ll Weigh Down the Economy for Years The “King of Debt” promised to reduce the national debt — then his tax cuts made it surge. Add in the pandemic, and he oversaw the third-biggest deficit increase of any president. https://www.propublica.org/article/national-debt-trump

The national debt has risen by almost $7.8 trillion during Trump’s time in office

TRUMP HAD THE THIRD-BIGGEST PRIMARY DEFICIT GROWTH, 5.2% OF GDP, BEHIND ONLY GEORGE W. BUSH (11.7%) AND ABRAHAM LINCOLN (9.4%).--All Republicans

Republican tax cuts are the driving force behind the country’s worsening fiscal outlook.

If not for the Bush tax cuts and their extensions — as well as the Trump tax cuts — revenues would be on track to keep pace with spending indefinitely, Instead, these tax cuts have added $10 trillion to the debt since their enactment and are responsible for 57 percent of the increase in the debt ratio since 2001

https://finance.yahoo.com/news/gop-tax-cuts-driving-us-160437971.html


Reagan took the deficit from $70 billion to $175 billion. Bush 41 took it to $300 billion. Clinton got it to zero. Bush 43 took it from zero to $1.2 trillion. Obama halved it to $600 billion. Trump’s got it back to a trillion."

President Biden is on track to reduce the deficit 60 percent in 2023
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Trump+Bush tax cuts are 39% of national debt. If you exclude COVID relief, the only bipartisan deficit spending since housing crash, it's over 60%