U.S. Treasury Secretary Steven Mnuchin told lawmakers on Thursday that he has some doubts that what are known as alternate scoring models will give enough credit to the potential for economic growth when assessing the impact of the Trump administration’s tax plan.
In late April, the administration put out a one-page overview of its tax reform plans, which would cut taxes for businesses to 15 percent, as well as cutting taxes and simplifying income tax brackets for individuals. Critics questioned how the tax cuts would be offset without driving up the federal deficit.
“What I have said repeatedly is that any plan we put forward we believe should be paid for with economic growth,” Mnuchin told the Senate Banking Committee. “I am concerned as to whether some of the models will attribute enough growth in dynamic scoring but when we present the details we will present how we think it