Harvard economists: Tax law costs $1.2T after accounting for economic growth

The Hill: The tax law President Trump signed in December costs about $1.2 trillion over 10 years after accounting for its economic effects, two Harvard University economists with different opinions of the law estimated in a new paper.

The findings in the paper, which is published in a Brookings Institution journal, contrast with claims some Republicans have made that the new law will pay for itself through increased economic growth.

The paper was written by Robert Barro, who has spoken favorably about the corporate part of the law, and Jason Furman, a former Obama administration official who has been critical of it.

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