Stephen Miran: No One Is Talking About the Effects the Trump Bill Will Have on Economic Growth

ROBERTS may turn into ░░░░░░░░ pretty serious arm twisting ░░░░░░░░ ll see Thanks Chad ░░░░░░░░ Smith All right For ░░░░░░░░ on this let s ░░░░░░░░ in the Council of ░░░░░░░░ Advisers Chairman Stephen Miran ░░░░░░░░ thank you so much ░░░░░░░░ joining us So for ░░░░░░░░ who are for this ░░░░░░░░ perhaps you have something ░░░░░░░░ give them to be ░░░░░░░░ about here MIRAN Thank ░░░░░░░░ for having me It ░░░░░░░░ great to see you ░░░░░░░░ Look you know I ░░░░░░░░ that the bill brings ░░░░░░░░ enormous amount in terms ░░░░░░░░ revenue from boosting economic ░░░░░░░░ A lot of numbers ░░░░░░░░ flown about from the ░░░░░░░░ and other sources and ░░░░░░░░ of them include the ░░░░░░░░ that the bill will ░░░░░░░░ on economic growth which ░░░░░░░░ s remind ourselves what ░░░░░░░░ with the Tax Cuts ░░░░░░░░ Jobs Act In the ░░░░░░░░ of all of the ░░░░░░░░ economic growth in the ░░░░░░░░ s first term until ░░░░░░░░ was 2 8 percent ░░░░░░░░ economic growth right If ░░░░░░░░ look at corporate revenue ░░░░░░░░ a share of GDP ░░░░░░░░ went from 1 6 ░░░░░░░░ of GDP to 1 ░░░░░░░░ percent of GDP despite ░░░░░░░░ reduction in corporate rates ░░░░░░░░ this is how pro ░░░░░░░░ economic policy works It ░░░░░░░░ economic growth More income ░░░░░░░░ more tax base More ░░░░░░░░ base means more revenue ░░░░░░░░ that brings deficit down ░░░░░░░░ calculate that between all ░░░░░░░░ president s policies from ░░░░░░░░ One Big Beautiful Bill ░░░░░░░░ deregulatory agenda the energy ░░░░░░░░ they ll boost economic ░░░░░░░░ by about a percentage ░░░░░░░░ This brings in about ░░░░░░░░ trillion more revenue So ░░░░░░░░ the Congressional Budget Office ░░░░░░░░ this thing s going ░░░░░░░░ cost three and a ░░░░░░░░ trillion we say that ░░░░░░░░ nonsense You have to ░░░░░░░░ the economic growth that ░░░░░░░░ going to come as ░░░░░░░░ result of the bill ░░░░░░░░ the other policies from ░░░░░░░░ president And then you ░░░░░░░░ four trillion to that ░░░░░░░░ and a quarter trillion ░░░░░░░░ deficit you get to ░░░░░░░░ seven hundred fifty billion ░░░░░░░░ surplus So there s ░░░░░░░░ of revenue that s ░░░░░░░░ in from economic growth ░░░░░░░░ other sources that are ░░░░░░░░ to bring the deficit ░░░░░░░░ Smith OK there s ░░░░░░░░ lot of calculations there ░░░░░░░░ you have made It ░░░░░░░░ not convinced some, including —“