Trump's Tax-Cut Bid Hits New Obstacle: Hurricane Harvey's Costs

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Published Aug 31, 2017. By John Voskuhl and Erik Wasson. In Bloomberg Politics.

Before President Donald Trump launched his latest call for major tax cuts, he took a moment to offer support to Texas and Louisiana in the wake of Hurricane Harvey.

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As Congress returns from a monthlong recess next week, the bill for Hurricane Harvey’s damage will make it more fiscally irresponsible than ever for lawmakers to consider tax cuts that aren’t paid for, said Bob Bixby of The Concord Coalition, a deficit-watchdog group.

“What needs to happen when Congress returns is a budget deal acknowledging that things need to be paid for and that tax cuts don’t pay for themselves,” Bixby said in an email. “It makes sense to borrow for an emergency like a hurricane but not for a tax cut that will contribute to an already unsustainable fiscal path.”