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The US Treasury Secretary expects a trillion dollar return from tax cuts

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rocky
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The US Treasury Secretary expects a trillion dollar return from tax cuts

Post by rocky on Fri 12 Jan 2018, 3:08 pm

The US Treasury Secretary expects a trillion dollar return from tax cuts
 12 January 2018 07:59 PM
[rtl]Direct: US Treasury Secretary predicted that tax cuts will eventually turn into revenue over 10 years, possibly up to $ 1 trillion due to increased growth.[/rtl]
 
[rtl]He ruled out "Stephen Manuchen" at the forum of the economic club in Washington, on Friday, estimates on the bill of the new tax law, and that will add between 1.1 and 1.5 trillion dollars to the US budget deficit over a decade, quoting Reuters.[/rtl]
 
[rtl]He said he believed there would be more than $ 1 trillion in growth, adding that the plan showed growth forecasts at 2.9 percent a year, but could reach 3 percent and above.[/rtl]
 
[rtl]He said the Treasury Department had held talks with the US Congress on additional funding to help implement the tax plan, adding that a large number of individuals would be recruited to participate in the implementation.[/rtl]
 
[rtl]President Donald Trump approved the new tax law by the end of last year in a move to cut corporate taxes from 35 percent to 21 percent. [/rtl]
 
[rtl]Several US companies have announced new investments, raise minimum wages and give bonuses to their employees after the tax cuts are approved.[/rtl]




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