GOP Faces Internal Conflict Over Proposed Tax Cuts and National Debt
President-elect Trump's tax cut plans trigger a debate among Republicans balancing fiscal responsibility and economic incentives.
- Republicans, with majorities in both chambers, are poised to pass significant tax policy changes under President-elect Trump.
- Proposed tax cuts could extend the 2017 Tax Cuts and Jobs Act, potentially adding $4.6 trillion to the deficit according to the CBO.
- Trump's additional tax proposals, including eliminating income taxes, could cost up to $15.5 trillion, raising concerns among fiscal hawks.
- House Republicans, especially fiscal conservatives, may resist steep tax cuts without corresponding spending reductions.
- Some Republicans advocate for a broader discussion on tax policy, considering both economic growth and the national debt.