Pence: Tax Plan Could Increase Deficit ‘Maybe in The Short Term’ - NBC Southern California
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Pence: Tax Plan Could Increase Deficit ‘Maybe in The Short Term’

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    NEWSLETTERS

    Kyle Walters, a financial and tax strategist, discussed President Donald Trump's tax reform plan and what it means to taxpayers. (Published Thursday, April 27, 2017)

    Vice President Mike Pence on Sunday acknowledged that the Trump administration's tax proposal could increase the deficit, in the “short term,” NBC News reported.

    "Maybe in the short term," he said during an exclusive interview on NBC's "Meet The Press," while predicting that it would eventually be overcome by economic "growth."

    "The president has proposed one of the largest tax cuts in American history," Pence said.

    On Wednesday, the White House released a one page outline for changes they want to see in the tax code, including lowering individual tax rates to 10 percent, 25 percent and 35 percent, and also cutting the corporate tax rate to 15 percent.

    Trump Pitches Tax Bill for Families, Businesses

    [NATL] Trump Pitches Tax Bill for Families, Businesses

    President Donald Trump pitched a tax cut bill drafted by GOP lawmakers, claiming it will bring money back from offshore accounts while giving families a modest tax cut of $2,000. Democratic lawmakers, meanwhile, are criticizing the bill for favoring the wealthy and large corporations. 

    (Published Wednesday, Dec. 13, 2017)