Trump Taxes

President Trump has boldly proposed cutting the top corporate tax rate from 35% to 15%, lower than any Republican plan circulating on Capitol Hill. Assuming no offsetting tax increases, this will raise the debt by easily $2.2 trillion over a decade, maybe just $1.75 trillion after accounting for the boost to GDP and the resulting added tax revenues. This is a humongous gambit that’s, at best, profoundly legislatively challenged