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Pence allows that Trump tax plan could increase deficit

Vice President Pence has acknowledged that the White House tax plan, details of which may be months away, could add to the budget deficit initially, putting President Donald Trump at odds with some congressional Republicans.

By Mark Niquette | Updated on May 01, 2017
Pence said that the U.S. needs growth that would be spurred by tax reductions to meet its existing obligations, while conceding that the president’s proposal may boost the deficit. (Photo: AP)

(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.

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