<p>TCJA Damaged U.S. Revenue Function, CBPP Senior Fellow Says</p>

TCJA Damaged U.S. Revenue Function, CBPP Senior Fellow Says

Center on Budget and Policy Priorities

The supply-side effects promised by proponents of the Tax Cuts and Jobs Act have not yet materialized, and the tax cuts have caused revenue losses that are contributing to the growth of fiscal deficits, Jared Bernstein of the Center on Budget and Policy Priorities said in remarks prepared for a November 20 House Budget Committee hearing.

<p>The supply-side effects promised by proponents of the Tax Cuts and Jobs Act have not yet materialized, and the tax cuts have caused revenue losses that are contributing to the growth of fiscal deficits, Jared Bernstein of the Center on Budget and Policy Priorities said in remarks prepared for a November 20 House Budget Committee hearing.</p>