Tax Bill Discrepancy - The White House projects an $8 trillion surplus, while independent economists estimate a $3 trillion deficit, a difference of $11 trillion [2] - The White House's projection relies on writing off $3.7 trillion in tax cuts, assuming they pay for themselves [3] - A key assumption is a sustained 3% economic growth over the next decade, generating $4 trillion, which many economists doubt [4] - The projection includes $2.8 trillion in revenue from tariffs, based on a CBO report, but this is uncertain due to ongoing negotiations [5] Trade Negotiations & "Liberation Day 2.0" - Commerce Secretary envisions "Liberation Day 2.0" as a celebration of multiple trade deals [10] - Treasury Secretary suggests pushing back deadlines for countries negotiating in good faith, potentially adding another 90 days [11] - The President's approach involves sending "take it or leave it" tariff letters to countries [11] - Analysts describe the situation as a "potluck," with varying quality of deals, leading to scrambling in the next 3 weeks [13][14]
Economists say the 'big, beautiful' tax bill has a $3 trillion price tag, but Trump disagrees
Yahoo Finance·2025-06-12 16:47