Larry Kudlow, the veteran financial guru and former economic adviser to President Ronald Reagan, said tax cuts will pay for themselves as they help to trigger strong U.S. growth.
“The mother of all pay-fors is economic growth,” Kudlow said on CNBC. “We need to lower marginal tax rates on large and small companies, we need to pick up repatriation, we need to go for immediate expensing for new investment. That will increase growth.”
Kudlow faced off against Jared Bernstein, a former chief economist to Vice President Joe Biden, in the televised discussion of President Donald Trump’s tax proposals, which are due to be released this week. The president ordered White House aides to write a plan that cuts the corporate tax rate from 35 percent to 15 percent, even if that means an increase in the federal deficit, according to press reports.
Kudlow was an economic adviser to the Trump