Trump's new tax plan looks a lot like the old one

The “new” tax plan that the White House unveiled today looks a lot like President Donald Trump’s old economic plan from the election campaign, with deep cuts to corporate and individual tax rates. Even with dynamic scoring, however, the old plan was expected to increase the Federal budget deficit by $7trn over the next decade. For that reason alone, this plan is never getting approved by Congress, particularly not through a budget reconciliation that requires ten-year revenue neutrality.