Crapo Statement on Analysis Showing Economic Impact of Permanently Extending Trump’s Tax Cuts

Analysis shows pro-growth agenda fuels 3 percent GDP growth, $4 trillion in revenue
Washington, D.C.--U.S. Senator Mike Crapo (R-Idaho), Chairman of the Senate Finance Committee, issued the following statement on an analysis from the Council of Economic Advisors (CEA) projecting that making the Trump Tax Cuts permanent—combined with other Trump Administration pro-growth policies—will yield an average growth of at least 3 percent per year over the next 10 years, resulting in more than $4 trillion of additional revenue during that period.
“Certainty and stability in our tax code are critical for economic growth and activity,”said Crapo.  “This analysis correctly recognizes the full economic impact of permanently extending the Tax Cuts and Jobs Act (TCJA), implementing commonsense regulatory reform and reducing wasteful government spending.  President Trump’s pro-growth agenda will raise trillions of dollars in revenue, increasing prosperity and opportunity across all segments of the economy.”
Key numbers from the CEAanalysis(TCJA extension combined with other pro-growth policies):
READ:CEA: The Economic Impact Of Extending Expiring Provisions Of The Tax Cuts And Jobs Act
READ:FY 2025 Budget Resolution will Deliver Permanent Tax Relief, Spur Economic Growth and Restore Fiscal Order
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