Portman Says GOP Tax Plan Will Cut The Deficit

Tax rates

(Washington, DC)  —  If it passes, the Republican tax plan is expected to feature sharp cuts to corporate and individual tax rates, but won’t raise the U.S. budget deficit. That is the assessment of Ohio Republican Senator Rob Portman.  So how do you cut taxes and not raise the deficit? Portman tells NBC’s “Meet the Press” the tax plan will actually reduce the deficit because it’s going to get the economy moving. The Senate Finance Committee member says raising annual U.S. economic growth to two-point-three percent from one-point-nine percent would be enough to start lowering the deficit.