The Committee for a Responsible Federal Budget initially estimated that Trump’s plan would reduce federal revenues by $9.25 trillion over the course of a decade.
However, a May study by the Committee for a Responsible Federal Budget found that Trump’s plans for ObamaCare would cost the country $550 billion and result in more than 20 million people losing their health care coverage.
The Committee for a Responsible Federal Budget, a fiscally-hawkish think-tank, reckons this alone will cost about $2.5 trillion over a decade, before accounting for the growth it might generate. But if the increase in the standard deduction stays too, Mr Trump’s revised plan will still blow a hole in the federal budget.
Told on Fox Business that the Committee for a Responsible Federal Budget estimated the cost of his tax plan at $10 trillion—roughly the 10-year estimate the group did for his original tax plan—Trump didn’t cite his own campaign’s estimate of the new cost, which is about $2 trillion over a decade, including about $20 billion per year for the child-care proposal, economic adviser Stephen Moore said Monday.
Committee for a Responsible Federal Budget mentioned at 2:54
In "Why I Like Trump" by Fred Krueger [Aug. 7, Insight], he lists our $19 trillion debt as a serious problem, not mentioning that a) the deficit has been decreasing since President Obama's first year in office, and b) that Donald Trump's tax plan would effectively increase our national debt by $11.5 trillion over the next decade, according to the Committee for a Responsible Federal Budget.
Committee for a Responsible Federal Budget Vice President: Marc Goldwein, comment starts at 1:26
Marc Goldwein is the senior vice-president and senior policy director for the Committee for a Responsible Federal Budget, a non-profit and non-partisan group. Marc, what's your assessment of what Donald Trump announced today? >> Well, look, this is definitely a move in the right direction. donald trump we've looked at his previous plans and would have added 11 and a half trillion dollars to the debt over a decade.
Marc Goldwein discusses Trump's new economic plan.