Trump’s trade war is going to cost American taxpayers an additional $30 billion taxes a year, according to a new analysis released Thursday by the nonpartisan Congressional Budget Office (CBO).
“CBO estimates that all tariffs enacted under Trump are raising taxes by about $30 billion annually ($315B 2020-2029),” noted Zach Moller, deputy director of Third Way’s Economic Program. “This would rise to about $45 billion a year if announced tariffs go into effect.”
The trade war tax hike would add to Trump’s already weak record on taxes.
View the complete August 31 article by Oliver Willis on the National Memo website here.