The White House and economists are in sharp disagreement over President Trump’s tax legislation.
While independent economists from organizations like the Congressional Budget Office and Tax Foundation estimate the bill will cost around $3 trillion over the next decade, the Trump administration claims it will actually generate revenue and reduce the deficit by up to $8 trillion.
This massive $11 trillion gap has created tensions on Capitol Hill, with experts calling the White House projections “ridiculous” and based on contradictory assumptions. During a recent Congressional hearing, Treasury Secretary Bessent could only cite Arthur Laffer, a longtime Trump supporter, as an independent expert supporting the administration’s claims, leading to laughter in the chamber.