White House economic adviser Larry Kudlow on Tuesday said the Congressional Budget Office has no idea how to measure the impact of tax cuts, and dismissed the CBO’s prediction that the tax cut bill would raise the debt by $1 trillion over a decade.
“Never believe the CBO,” he said on Fox News. “Very important. Never believe them.”
“They’re always wrong, especially with regard to tax cuts, which they never score properly because they don’t understand the growth, the incentives and the encouragements to reward success,” he added.
CBO said the tax cut bill would add another $1 trillion in debt. But Kudlow and others have rejected this finding and argue it doesn’t reflect the growth that the tax cuts will bring to the U.S.
“We’re already moving towards a 3 percent growth path,” Kudlow said. “I believe we will stay on that path and make it even better.”
“The CBO people are professionals, this is not a personal attack,” he added. “But their track record on tax cuts is not good.”
Trump and his supporters have been touting the tax cuts as a major achievement as Republicans head toward the midterm elections, and are hopeful that achievement will help keep the GOP in control of Congress.
