Senate Minority Leader Chuck Schumer on Monday condemned a one-page Treasury Department analysis of the GOP tax bill as “nothing more than one page of fake math.”
Treasury’s analysis estimated what would happen to federal revenues following Republican tax cuts if economic growth rose to 2.9 percent annually, rather than the 2.2 percent expected today. In that scenario, federal revenues would rise by $300 billion, Treasury officials said.
But Schumer joined other critics of the analysis and said it is a GOP effort to “prove the unprovable.”
“No amount of fake math can change the fact that the Republican tax bill will be a boon to the wealthiest Americans and largest corporations all while increasing taxes for millions of middle-class families and leaving 13 million Americans without healthcare,” Schumer said.
Democrats have challenged the GOP claim that the large corporate tax cuts provided under their plan will spur major economic growth, which would provide new revenue to the Treasury and prevent the deficit from growing.
