Debate Rages Over Trump’s Tax and Spending Policies' Impact on Economy and Deficit
TL;DR Summary
Senate Republicans are close to passing a large tax and spending bill that extends many of Trump's previous tax cuts and increases spending in certain areas. However, experts like Citi's Nathan Sheets believe the bill will have minimal impact on the already large US deficit and won't significantly boost economic growth, which is more likely to be influenced by deregulation and trade policies. The bill's effect on the deficit is expected to be negligible, with the overall fiscal picture remaining large regardless.
- Trump’s Tax Bill Won’t Help or Hurt the Economy. The Deficit Is Already Huge. Barron's
- Trump’s Big Policy Bill Puts U.S. on Perilous Fiscal Path The New York Times
- Republicans' megabill makes the same tax cut mistake they've always made MSNBC News
- The One Big Beautiful Bill Slashes Deficits, National Debt While Unleashing Economic Growth The White House (.gov)
- Banks say Trump’s ‘big beautiful bill’ could boost the U.S. economy – despite deficit concerns CNBC
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