Tax Reform and Budget Deficits in America
Republican leaders in the US House of Representatives have been at work for more than a year designing a major reform of personal and corporate taxes. Although the changes may widen the budget deficit in the short term, the incentive effects of lower rates will boost economic growth, implying lower long-term deficits.
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CAMBRIDGE – The Republican Party’s leaders in the United States House of Representatives have been hard at work for more than a year designing a major reform of personal and corporate taxes. With an election looming in 2018, the House Republicans are determined to deliver a reform package and send it to the Senate for enactment.