Tax cuts proposed by the Republican Party would add more than $3.2 trillion to the federal deficit over a decade, the nonpartisan Tax Policy Center concluded in a report Thursday.
The GOP has suggested a second round of tax cuts to cement some of the provisions from the tax reform bill passed last December, and a House committee began considering the measure ahead of a vote later this month, reports The Washington Post. The original reform, which included a provision for deductible corporate jets, is set to expire in 2025, but the new package would permanently extend some of those cuts.
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