President-elect Donald J. Trump faces a fiscal reckoning in Washington regarding his proposed tax cuts, as Republicans debate the extent of new reductions amidst existing tax cut expirations.
The nonpartisan Congressional Budget Office estimated that continuing the expiring provisions would cost about $4 trillion over a decade, complicating Mr. Trump's tax reduction ambitions.
Republican strategist Liam Donovan highlighted a forthcoming reckoning, acknowledging the enormous challenge of balancing new tax cuts with fiscal responsibility and the implications for national debt.
Republicans are discussing a fast-track budget process to enable party-line passage of further tax cuts, reflecting their preparations for controlling Congress, though financial commitments remain uncertain.
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