A new paper from the Heritage Foundation shows that federal tax revenues are growing at a much faster rate than what the Congressional Budget Office projected before and after the 2017 tax cuts were enacted, providing more evidence that the tax cuts are not responsible for the higher budget deficits. The numbers show that higher levels of spending, not lower tax revenues, are the cause of the fiscal imbalance.

The paper, first published by the Committee to Unleash Prosperity, compares CBO revenue forecasts for 2018-2027 without the tax cuts and in 2018 after they passed with the current CBO forecast made this year. In 2017, the CBO forecasted that federal revenue over the next 10 years would total $40.7 trillion without any tax cuts. The following year, after the tax cuts, the CBO projected that federal revenue would total $39.6 trillion over the same period, a drop of $1.1 trillion.