Summary
The fast-approaching Capitol Hill battles on spending and deficit- reduction are going to test the notion that tax cuts pay for themselves - as both parties have started staking out ground in a debate over whether such cuts generate a big enough uptick in economic activity to offset the loss of revenue.
Democrats say that if lawmakers are serious about tackling the $14.3 trillion national debt, they must pair spending cuts with tax increases, particularly on wealthier Americans.See the full content of this document
Extract
; Whether They 'Pay for Themselves' Contested
Republicans, meanwhile, say lawmakers would be better served pairing deeper spending cuts with a permanent extension of the Bush- era tax cuts, arguing that the combination...
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