Who Will Ultimately Pay for the $1 Trillion Deficit?

Article ID: 686102

Released: 4-Dec-2017 10:05 AM EST

Source Newsroom: Northwestern University

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  • Credit: Northwestern University

    Ben Harris

Newswise — EVANSTON, Ill. --- The Senate passed the Republican tax bill early Saturday morning, following the Joint Committee on Taxation's analysis that said the changes would add $1 trillion to national deficits over a decade.

Ben Harris is a visiting associate professor at the Kellogg School of Management at Northwestern University and was formerly the chief economist to Vice President Joe Biden. Read his recent article: “Here’s the biggest missing piece in GOP tax plan.”

Harris can be reached at benjamin.harris@kellogg.northwestern.edu.

Quote from Professor Harris
“The Republican tax plan is poorly designed to generate higher long-run economic growth, while also raising serious distributional concerns. Despite claims by proponents, low- and middle-income families fare poorly with this tax cut — especially when factoring in who will ultimately pay for the more than $1 trillion in higher deficits that would arise from its passage.”

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