The U.S. Republican tax cut plan that President Donald Trump wants passed by year’s end is unlikely to trigger a big deficit expansion because it will spur more investment and job growth, U.S. House of Representatives Speaker Paul Ryan told Reuters in an interview on Wednesday.
“We believe that we’ll get faster economic growth,” Ryan said. “We don’t anticipate a big deficit effect from this tax reform because we will broaden the base and lower the rates, plug loopholes and get faster economic growth. … Those things combined, we believe, will give us faster growth and a more resilient tax code.”
(Reporting by David Morgan and Doina Chiacu; Writing by Susan Heavey; Editing by Kevin Drawbaugh and Will Dunham)