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The OECD “slashed the outlook for the US economy this year from 2.2% to 1.6% and predicted growth would slow again in 2026.”

OECD: Substantial increases in trade barriers…pose significant risks to growth. [But] an early reversal of recent trade barriers could boost economic growth and help ease inflationary pressures.

Earlier this week, the WSJ Editorial Board argued that investor concern over Section 899, the retaliatory taxes on inbound investment, was "odd." In a new piece, Stan Veuger and I argue that many of the concerns are legitimate. Link in reply.

to everyone saying the bill reduces spending, maybe you missed it, but politically motivated tax carveouts count as pork!

CBO has been run by Republican directors for the last decade. They have been instrumental in making the agency's projections more accurate and comprehensive. Phill Swagel is doing excellent work and anyone denouncing CBO in blanket fashion for expediency's sake is not helping.

The strategy from the very beginning has been to try to discredit CBO and JCT. Why? Not because CBO and JCT are biased, but because CBO and JCT will say that a multi-trillion dollar deficit increase does, in fact, increase the deficit by trillions of dollars.

Elon Musk "by introducing narrowly targeted provisions and sunsetting the most pro-growth provisions, like bonus depreciation and research and development (R&D) expensing, the House bill leaves economic growth on the table and complicates the structure of the tax code." Tax Foundation

Economic growth is an important aspect of sustainable debt reduction, but the tax bill falls well short of getting debt under control. Tax Foundation estimates debt-to-GDP would increase, even on a dynamic basis, under the bill, reaching 167% by 2059.

CC: Alex Muresianu

one of the first things they tell you in media training is that if someone asks you about something bad, do not repeat the bad thing in your answer

Steel and aluminum tariff hikes will take place on schedule, that is, after midnight tonight, and the increases do not apply to the UK for now.

Q: Why are Americans facing a $4 trillion tax hike? A: Because the 2017 tax law temporarily cut their taxes and those cuts are about to expire. Q: Why did the 2017 law temporarily cut taxes? A: It sunset the tax cuts to reduce the JCT score of the bill. Q: Ahh, so it used a

Any guesses what it means that the tariffs help “provide critical price support in the United States market,” any guesses at all?

U.S. is producing less steel than before the 2018 steel tariffs ... nor did the 2018 prediction of 80% capacity utilization every happen. Maybe the effect here was to push customers to find ways to buy less metal? progressivepolicy.org/trade-fact-of-…