Ardavan Mobasheri: Tax proposals borrow from the future to spend now (Pilot Online)
November 20, 2017
THE GOP-CONTROLLED House of Representatives voted on its version of tax “cuts” last week, and the Senate will have its chance shortly after the Thanksgiving holidays.
Once the House and the Senate have talked through their differences and special interests have had their opportunity to speak out, what is likely to come out of Congress will be different than any of the proposals we have seen to date. One thing, however, that will be a certainty is that any final bill placed on President Donald Trump’s desk will essentially be a tax cut that increases the deficit to the tune of $1.5 trillion over 10 years.