Larry Kudlo challenges the expectations of the Central Bank of Oman on the “Great” Trump tax bill

According to the CBO budget office, the president Donald Trump The “big and beautiful bill” will reduce taxes by $ 3.7 trillion, with a deficit increased by $ 2.4 trillion over a decade.

CBO prohibits based on the information provided by Congress when considering legislation that includes spending and taxes. But is it always right?

Not Larry Kudlo. During its presentation on Thursday, Kudlo explained how the Congress Budget Office has lost expectations related to the tax reduction law and 2017, the Trump signing bill in his first term.

“The current cost of tax discounts for 2017 should be zero. Why should it be zero? Because it has already achieved more revenues, $ 2.3 trillion is more than CBO for the past seven years.”

The Trump spending bill will reduce taxes by $ 3.7 million, add $ 2.4T to deficit, says the Oman Central Bank

“So the current policy should not be registered. The impact effect should be neutral. Now, I think there will be growth profits that may be discussed, but if you connect 3 % growth instead of CBO’s Lowbal 1.8 %, I am already getting additional 4 trillion dollars for deficit reduction purposes.”

Follow Kudlow, where he made some warnings, but indicating that CBO estimates depend on 1.8 % domestic product, which is a low number.

“You can play with these numbers interactively,” he said. “Or if you want to use 1.8 % global CBO growth, you are likely to lose four trillion in additional revenue and reduce deposit.”

“It still goes forward on the performance card in reducing the deficit, but not as much. But it is important, the Republican Party will prevent the increase in taxes of 4 trillion dollars, which will be disastrous for the economy,” Kudlo said.

Elon Musk criticizes the Republican Party tax bill on the impact of deficit: “disgust”

According to Kudlo, this is not the only time that the Central Bank of Oman lost estimates. For example, with reasonable prices, the Central Bank of Oman, which is initially estimated at up to 25 million people, will register for health care on Obamachari stock exchanges by 2017. The actual number in 2017 was only 12 million people, which exceeds 13 million people.

It was also noticed that there are potential savings from the Act of Inflation Limiting 2022. CBO initially estimated billions of deficit, but the latest estimates show that they may add $ 428 billion to the deficit. The Central Bank of Oman recorded such expectations on the assumption that the most important tax cuts in the 2017 package will end at the end of 2025.

Whether the home version of “A Big Beauty Bill” passes and is finally signed in the air. In the Senate, two Republicans, Rand Paul, RK, Ron Johnson, R. Reducing deficit.

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Republicans want to pass the draft law in the Senate using reconciliation, which only requires a simple majority of 51 votes instead of having to reach a 60-a-to-53-47 majority vote, Republicans cannot risk more than two collapse, or the draft law will be defeated.