Tax Cuts Alone Don't Enhance Growth: Concord Coalition

Published Oct 26, 2017. By Editorial Staff.

The U.S. Senate “has abandoned fiscal responsibility” by calling for deficit-financed tax cuts of up to $1.5 trillion over 10 years in its fiscal year 2018 budget resolution, according to the Concord Coalition, a[n] ...organization that advocates for fiscal prudence.

"The flawed premise of this budget is that tax cuts alone, regardless of their financing, composition or magnitude, will enhance long-term economic growth," said Robert L. Bixby, Concord's executive director, in a release.

“This budget fails when evaluated according to some of our key lessons: Tax cuts don't pay for themselves, PAYGO (pay as you go) is an important standard, and the budget process should be focused on long-term planning,” the release said.