Opinion | A New Approach to Taxes That Pays Its Own Way


Two decades of unpaid-for tax cuts have eroded the federal government’s revenue base.


Brian Deese


David Kamin

Most of the tax cuts passed in 2017 are set to expire in 2025. Altogether, these cuts cost the federal government about $350 billion a year, or 1% of gross domestic product. Their expiration marks a milestone in American tax policy.

The tax system of the 1990s could have financed the government we have today. But two decades of successive unpaid-for tax cuts eroded our nation’s revenue base. Without those tax cuts, federal debt as a share of the economy wouldn’t be projected to rise significantly over the coming decade.

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

What to Read Next

 » Read More

You might also like