Commentary: With Tax Cuts for the Top, GOP Leaders Now Aim Budget Cuts at the Bottom
End Notes
[1] See Joel Friedman and Chad Stone, “Republican Tax Plans Cost More — and Add Less to Growth — Than Proponents Claim,” Center on Budget and Policy Priorities, December 14, 2017, https://www.cbpp.org/research/federal-tax/republican-tax-plans-cost-more-and-add-less-to-growth-than-proponents-claim.
[2] See Chad Stone, “GOP Making Highly Unrealistic Claims for Wage Gains from Tax Cuts,” Center on Budget and Policy Priorities, November 13, 2017, https://www.cbpp.org/blog/gop-making-highly-unrealistic-claims-for-wage-gains-from-tax-cuts.
[3] Joseph Lawler, “Trump tees up welfare reform,” Washington Examiner, December 5, 2017, http://www.washingtonexaminer.com/trump-tees-up-welfare-reform/article/2642303.
[4] CBPP calculations based on Joint Committee on Taxation estimates of the cost of the final tax bill. See https://www.jct.gov/publications.html?func=startdown&id=5053.
[5] See Joel Friedman, “Tax Bill’s Cost Could Hit $2.2 Trillion Over Next Decade,” Center on Budget and Policy Priorities, December 18, 2017, https://www.cbpp.org/blog/tax-bills-cost-could-hit-22-trillion-over-next-decade.
[6] Tax Policy Center, T17-0312 - Conference Agreement: The Tax Cuts and Jobs Act; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2018, December 18, 2017, http://www.taxpolicycenter.org/model-estimates/conference-agreement-tax-cuts-and-jobs-act-dec-2017/t17-0312-conference-agreement.
[7] Tax Policy Center, T17-0316 - Conference Agreement: The Tax Cuts and Jobs Act; Baseline: Current Law; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2027, December 18, 2017, http://www.taxpolicycenter.org/model-estimates/conference-agreement-tax-cuts-and-jobs-act-dec-2017/t17-0316-conference-agreement.
[8] See Chye-Ching Huang, “JCT: Millions of Households Face Tax Increase or No Tax Benefit Under Republican Tax Bill,” December 19, 2017, https://www.cbpp.org/blog/jct-millions-of-households-face-tax-increase-or-no-tax-benefit-under-republican-tax-bill.
[9] The Treasury’s one-page “analysis” seeking to support the claim that the bill will pay for itself simply asserts that Administration policies overall would greatly boost economic growth and then estimates how much added revenue this fanciful estimate of added economic growth — which most economists reject — would create. Chad Stone, “Treasury ‘Analysis’ of Tax Bill Assumes What It Claims to Prove,” Center on Budget and Policy Priorities, December 12, 2017, https://www.cbpp.org/blog/treasury-analysis-of-tax-bill-assumes-what-it-claims-to-prove.
[10] Congressional Budget Office, “Longer-Term Effects of the Better Care Reconciliation Act of 2017 on Medicaid Spending,” June 2017, https://www.cbo.gov/system/files/115th-congress-2017-2018/reports/52859-medicaid.pdf.
[11] “Policy Basics: Introduction to Medicaid,” Center on Budget and Policy Priorities, updated August 16, 2016, https://www.cbpp.org/research/health/policy-basics-introduction-to-medicaid.
[12] Donald J. Trump, “ObamaCare premiums are going up, up, up . . .” Twitter, November 23, 2017, https://twitter.com/realdonaldtrump/status/933837062293291008?lang=en; Peter Sullivan, “Alabama result deals heavy blow to ObamaCare repeal,” The Hill, December 14, 2017, http://thehill.com/policy/healthcare/364822-alabama-result-deals-heavy-blow-to-obamacare-repeal; Peter Sullivan, “Ryan: We need to ‘revisit’ ObamaCare,” The Hill, December 14, 2017, http://thehill.com/policy/healthcare/364916-ryan-we-need-to-revisit-obamacare.
[13] Steven T. Dennis, “Cornyn Says Tax Bill Mandate Repeal Makes Obamacare ‘Unworkable,’” Bloomberg, December 19, 2017, https://www.bloomberg.com/news/articles/2017-12-20/cornyn-says-tax-bill-mandate-repeal-makes-obamacare-unworkable; Jennifer Haberkorn, “Graham-Cassidy backers eye reviving repeal plan next year,” Politico, December 19, 2017, https://www.politicopro.com/health-care/whiteboard/2017/12/graham-cassidy-backers-eye-reviving-repeal-plan-next-year-300015.