December 12, 2017

Springfield Republican: Treasury Department backs GOP tax plan in 1-page analysis, Elizabeth Warren calls report 'bogus'

A U.S. Department of Treasury analysis of Senate Republicans' tax overhaul bill released this week suggested that the $1.5 trillion legislation could pay for itself if the economy grows at as faster pace than has been projected -- findings that drew pushback from at least one Massachusetts Democrat.


U.S. Sen. Elizabeth Warren, D-Massachusetts, called the report "pathetic" and argued that it shows Mnuchin "has no basis for claiming that the tax plan 'will pay for itself with growth.'"

"In this bogus report, (the Treasury) was supposed to use its economic models to project how the GOP tax plan would affect economic growth. It didn't do that. It just made up the numbers," she tweeted Monday.

Pointing to the analysis' projected 2.9 percent GDP growth rate, Warren argued that the report fails to show how such a growth rate would be achieved.

Read more on the Springfield Republican's website here.