The Treasury Department on Friday defended President Donald Trump’s latest tax plan, saying the plan would lead to significant revenue increases, a “robust” infrastructure program and higher taxes for American families.
“The Trump administration’s tax reform proposal will lead to substantial tax reductions for Americans, and the proposal will help the economy,” a Treasury Department official said in a statement.
“The tax plan will also help create jobs and stimulate the economy.
As with any tax plan that increases revenues, it must also lower taxes.”
The official, who was not authorized to speak publicly on the matter and spoke on condition of anonymity, said Trump’s plan is a “strong investment in the American economy” that will provide a “balanced approach to economic policy” and is the right thing for the country.
The White House also said the plan will result in a “greater level of economic growth, jobs creation, and economic opportunity for the American people.”
“The administration is committed to reducing taxes and increasing economic growth for all Americans, while maintaining the integrity of our tax system,” the official said.