The Fiscal Impact of President Trump’s Tax Cuts

When the U.S. Congress passed tax cuts in December 2017, there were two main schools of thought about their impact on the U.S. government’s fiscal situation:

The tax cuts would stimulate faster economic growth such that the tax cuts would pay for themselves.
The tax cuts would “explode” the U.S. government’s budget deficit.

These are two diametrically opposing arguments that have been voiced by some of the most partisan politicians and media organizations in Washington D.C. As you might imagine, in the real world beyond the Beltway, in the first six months after the Tax Cuts and Jobs Act of 2017 was signed

Read more at The Independent Institute