The Missing Treasury Analysis of the Republican Tax Plan Has Finally Been Released

Good news! Treasury Secretary Steve Mnuchin has promised repeatedly that the Republican tax plan would pay for itself and that he has hundreds of analysts “working around the clock on running scenarios for us.” Naysayers scoffed, wondering where this analysis was. Well scoff no more. He released it today. Here’s the first page:

Wait. Did I say “first page”? What I meant was “whole thing.” That’s right: it’s seven paragraphs long and contains no original analysis at all. It basically says two things:

  • The analysis from the Joint Committee on Taxation is correct.
  • Tax revenue will rise if we assume 2.9 percent economic growth.

Seriously. That’s it. I included the entire plan above so you could check to make sure I’m not exaggerating. There’s literally no analysis at all. The Treasury Inspector General has already promised an investigation into the missing report that hundreds of people were supposedly working on, and after seeing this I really, really want to see what the IG comes up with. The only plausible scenarios are either (a) nobody was ever doing any serious analysis, or (b) they did a serious analysis and the results were too catastrophic to be released.  So instead we got a one-page report cribbing from JCT and explaining that tax revenues will rise if economic growth skyrockets. A tenth grader could have written this.

Welcome to the Trump era, folks.

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DONALD TRUMP & DEMOCRACY

Mother Jones was founded to do journalism differently. We stand for justice and democracy. We reject false equivalence. We go after stories others don’t. We’re a nonprofit newsroom, because the kind of truth-telling investigations we do doesn’t happen under corporate ownership.

And we need your support like never before, to fight back against the existential threats American democracy faces. Fundraising for nonprofit media is always a challenge, and we need all hands on deck right now. We have no cushion; we leave it all on the field.

It’s reader support that enables Mother Jones to report the facts that are too difficult, expensive, or inconvenient for other news outlets to uncover. Please help with a donation today if you can—even a few bucks will make a real difference. A monthly gift would be incredible.

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