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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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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