WASHINGTON (AP) — A budget watchdog group in Washington says the new GOP tax plan could cost $2.2 trillion over the next 10 years.

The Committee for a Responsible Federal Budget admits its estimate is very preliminary since so many details are unclear, but its take is that the plan contains about $5.8 trillion in tax cuts but only $3.6 trillion worth of offsetting tax increases. That $2.2 trillion would be added to the nation’s $20 trillion debt.

That’s more than the $1.5 trillion debt cost that has emerged in a deal among Senate Republicans.

Republicans controlling Congress initially promised that the overhaul of the tax code wouldn’t add to the debt. The group also notes that the $2.2 trillion cost could grow by another $500 billion when interest costs are added in.

(© Copyright 2017 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments
  1. Cost who? It is my money in the first place. Cut my taxes and that costs me nothing. The government is the poorest spender of other peoples money. Cut the life time pension of all state and federal employees. DO YOU GET A LIFE TIME PENSION from your private sector job?

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