GOP Tax Bill Seen Masking More Than $1 Trillion US Debt Hit
By and Nancy Cook
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The cost of Republican lawmakers' draft plan for sweeping tax cuts weighed in at $3.8 trillion over the next 10 years in one official estimate, a lowball projection that independent analysts say masks the true fiscal hit.
Budget experts typically calculate the cost of legislation, or 'score,' over a 10-year period. But President Donald Trump's headline-grabbing pledges to remove taxes on tips and overtime are supposed to expire after just four years in the latest bill. That has effect of downplaying the potential revenue loss if the measures are extended — which Congress has a tendency to do.
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