Trump’s budget reinforces supply-side economic principles, calling for:
✔ Corporate tax reduction – lowering rates from 21% to 18%
✔ TCJA extension – making expiring individual cuts permanent
✔ Domestic production incentives – new “Made in America” tax credits
Fiscal Reality Check:
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$4.8 trillion deficit over decade (CBO estimate)
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Debt-to-GDP rises to 125% by 2030
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S&P 500 hits record high on announcement
Corporate Winners:
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Big Pharma (R&D deduction expansion)
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Energy (drilling permit fast-tracking)
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Defense (F-35 funding boost)
Expert Warning:
“This proposal fails to learn from the 2017 bill’s fiscal shortcomings,” argues Mark Mazur, director of the nonpartisan Tax Policy Center. “Without corresponding revenue measures, we’re setting up for even larger deficits.”
