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Tax reform could send the deficit skyrocketing

"Devil will be in the details" as House and Senate leaders pursue tax reform proposals by administration.

Could the tax reform proposals that are beginning to gain momentum in Congress add $6.2 trillion to the federal deficit? K-Coe Isom’s Jim Rein says that’s one of the numbers that’s out there, provided by the nonpartisan Tax Policy Center.

Another is that it would add $20 trillion to the federal deficit by 2036. That’s the same figure as the current federal debt, according to Republican congressmen who work on the House Appropriations Committee.

Whether those figures hold true as tax reform begins to grind its way through Congress will bear watching in the weeks ahead, as Rein noted, while speaking at the spring board of directors meeting of the Agricultural Council of Arkansas in Forrest City.

To see more of Rein’s presentation, click on http://www.deltafarmpress.com/legislative/tax-reform-debate-expected-heat-soon-part-i.

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