(Bloomberg) -- Vice President Mike Pence said the Trump administration’s tax overhaul initially could add to the U.S. budget deficit, but would result in higher economic growth to address it.
The comments acknowledge that the White House plan, details of which may be months away, wouldn’t be revenue-neutral, putting President Donald Trump at odds with some congressional Republicans.
Separately, Trump said in an interview with CBS’s “Face the Nation” that the network released on Monday that he still plans to eliminate the “carried interest” tax break that some investment managers use to lower their tax rates. “It’s out. Done,” the president said. His White House chief of staff, Reince Priebus, had also hinted on Sunday that carried interest would be targeted as part of the tax plan, many details of which are still unclear.
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