Cindy Ponder-Budd

Peterson examines the Congressional Budget Office's recent economic forecasts taking into account President Trump's 2017 Tax Cuts and Jobs Act. They estimate that the economic effect of the TCJA would peak between 2018 and 2020 with a yearly impact of 0.3 percentage point on real GDP growth. After 2023, the economic effect of the TCJA on growth would turn negative. Ten years from now, real GDP would only be 0.5 percentage point higher than it would otherwise have been without the program.


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