Senate Republicans Embrace Plan for $1.5 Trillion Tax Cut - The New York Times
WASHINGTON — Senate Republicans, abandoning a key fiscal doctrine, agreed on Tuesday to move forward on a budget that would add to the federal deficit in order to pave the way for a $1.5 trillion tax cut over the next 10 years.
The Republican lawmakers, under mounting pressure to score a legislative win on taxes, say a tax cut of this magnitude will stimulate economic growth enough to offset any deficit impact.
Yet critics say a deficit-financed tax cut is at odds with longstanding Republican calls for fiscal discipline, including that tax cuts not add to the ballooning federal deficit.