Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Treasury's One-Page 'Analysis' the Administration's Report on the Tax-Cut Legislation in Congress Is a Joke

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Treasury's One-Page 'Analysis' the Administration's Report on the Tax-Cut Legislation in Congress Is a Joke

Article excerpt

An editorial from Bloomberg View

In the mid-1980s, when President Ronald Reagan was trying to get Congress to pass bipartisan tax-reform legislation, the Treasury Department issued a detailed economic analysis of his plan. It ran hundreds of pages. This week, as Congress rushes headlong to approve a far-reaching tax-cut bill, President Donald Trump's Treasury Department also released an analysis. It's a single page.

It's hard to say which proposition is more laughable: That Congress should take this analysis seriously or that Treasury did.

The department had long promised to issue a study of its plan's implications for economic growth and the deficit. The White House first announced its tax-reform proposal - also a single page - in April. In May, Treasury Secretary Steven Mnuchin said there were more than 100 people working on the tax analysis, and the process would be "completely transparent."

More than six months later, a mysterious process has resulted in 470 words of superficial analysis, based in part on provisions and policies that are not even in the legislation the document purports to analyze. …

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