Treasury Department Releases Page-long Analysis of Tax Plan,

By:
Chris Gaetano
Published Date:
Dec 12, 2017
Inspector

The Treasury Department released the long-awaited analysis of the Republican tax plan, which took the form of a one-page long document that essentially says that the other analysis released by the Joint Tax Committee was correct. The Treasury estimates that the tax bill would add $408 billion in new tax revenue and add $1.8 trillion in incremental government revenue over 10 years, provided the economy grows 2.9 percent over the same time period. 

The single page analysis is quite slight compared to the 458 pages that make up the current tax proposal as voted on by the Senate. The Washington Post said economists and tax policy experts were skeptical of the assumptions the Treasury made in order to support its analysis, and noted that the department's view was more optimistic than even outside supporters of the bill, such as the Tax Foundation. Those quoted in the story said that there was no supporting documentation for Treasury's conclusions, making it impossible to check its work. 

While Treasury Secretary Steve Mnuchin had repeatedly promised to conduct an analysis showing that the GOP tax plan could pay for itself, the legislation continued to move forward with no such document. The delay caused the Treasury Inspector General to launch an investigation as to why exactly things were taking so long. 

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