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  • Tax revenue increased 33% since Trump-era tax reform, while spending jumped more than 50%, CBO says

    02/14/2024 10:14:21 PM PST · by CFW · 10 replies
    Just the News ^ | 2/14/24 | Nicholas Ballasy
    Federal tax revenue increased 33% since Congress passed the Trump-era tax reform bill in 2017, while spending increased more than 50% over that same time frame. The data is contained in the Congressional Budget Office's recently released 10-year budget outlook. "Measured as a share of the economy, tax revenue averaged 17% of gross domestic product in the years since the TCJA was passed, the same share as in 2017, and would have been higher if not for the pandemic and associated economic shutdowns," wrote Alfredo Ortiz, president and CEO of the Job Creators Network. "The CBO projects the tax share...