Trump tax cut extension cost swells to $7 trillion, CBO warns

The cost of extending the 2017 tax cuts for households, small businesses and the estates of wealthy individuals enacted under president Donald Trump has expanded to $US4.6 trillion ($7 trillion), according to new estimates from Congress’ fiscal scorekeeper.

That puts a massive price tag on what is likely to be a top issue in Washington next year as lawmakers grapple with the future of Trump’s tax cuts, which are slated to expire at the end of 2025.

Bloomberg