President Trump confronts significant skepticism from Republican senators, investors, and voters regarding his multitrillion-dollar tax breaks package, particularly the potential impact on federal debt. Critics highlight the administration's previous failure to reduce deficits and express concerns about Congress's competence. The White House aggressively disputes these criticisms, claiming they stem from misunderstandings of economic forecasting. House Speaker Mike Johnson argues that the Congressional Budget Office fails to predict tax cut-induced growth accurately. Trump admits that not enough spending cuts have materialized because of the necessity to maintain Republican unity for his tax agenda.
President Trump faces opposition from Senators and financial markets about his multitrillion-dollar tax breaks, raising concerns over increased national debt.
The White House has aggressively pushed back against claims that the tax plan will worsen the deficit, labeling such concerns as misinformed.
House Speaker Mike Johnson criticized the CBO for consistently underestimating growth resulting from tax cuts, claiming that better projections would support their economic strategy.
Trump acknowledged that the absence of major spending cuts necessary to balance his tax cuts stems from a need to secure the support of Republican lawmakers.
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