Maya MacGuineas reacts to President Trump’s Tax Plan

Maya MacGuineas is the President of the Committee for a Responsible Federal Budget, a bipartisan advocacy organization for fiscal responsibility. 

There is still the issue that there are so many questions that need to be answered so it’s very difficult to go through and say the tax cuts will help one group, but not the other. 

This all started out as one big effort to create tax reform. The purpose of which is to help grow the economy at a time when our growth is much lower than we want it to be, also it would help make us more competitive and hopefully simplify and improve the tax code.

Now, we’re seeing this change into tax cuts and less about reform. Tax cuts have the appeal, it can put more money in people’s pockets immediately, but they also come with a massive amount of debt. 

Tax cuts do not pay for themselves, but they do grow the economy. So if we do smart tax reform, which is what this tax reform looks like, the only problem I see is that it will blow a hole in the national debt. But, the framework of lowering rates and focusing on corporate tax reform it includes a lot of things that will help grow the economy.