President Trump’s tax cuts won’t add to deficit, report finds

President Donald Trump’s proposed $1.4 trillion tax cut for individuals and businesses won’t be a significant contributor to the deficit in its first year, according to a study released Wednesday.

The nonpartisan Tax Policy Center said the cuts would add $5.4 billion to the national debt over the next decade.

It found that the Trump administration has not provided any detailed estimates for the tax cuts.

The Tax Policy Institute, a nonpartisan research group, found that $2.5 trillion of the $1,428 billion tax cut would come from eliminating the estate tax, a tax on inheritances.

The estate tax is the highest tax on the value of estates, or the value that people are taxed on when they die.

Under the estate-tax system, people who inherit their wealth have to pay taxes on it until they die, which can take decades.

The House and Senate have been working on tax legislation for years, but it is unclear how they will reach a deal on the bill.

The Joint Committee on Taxation, the nonpartisan tax agency that produces the Joint Committee Report, released a report earlier this month that said the Trump tax plan would add roughly $6 trillion to the nation’s debt over 10 years.

“The Tax Policy Committee believes the Trump-Ryan tax plan will add $6.1 trillion to annual deficits over the coming decade,” the report said.

It added that $1 trillion in the tax cut “would be offset by a reduction in the number of taxable estates, which would raise taxes on individuals and families.

It is unclear whether any of this $6 billion would be offset with tax cuts for the middle class, or whether the reduction in taxes on estates would lead to higher tax rates for the highest income Americans.”

The tax cut, which will be paid for by closing loopholes and cutting tax rates, would raise about $4 trillion over the decade.

The tax cuts will reduce taxes for some middle class households, according the report, but for the wealthiest Americans, the cuts will cost the federal government more than $1 billion.

It said that under the plan, the top 1 percent of earners would get a $1 million tax cut in 2021, but the top 0.1 percent would pay $1 percent.

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In sum, the proposal would eliminate more than 1,000 deductions, reduce taxes on the wealthiest taxpayers, reduce the corporate tax rate, reduce tax on interest, and cut taxes on many others, while providing the middle and lower income groups with modest tax relief,” the tax report said, referring to the top 10 percent and top 0 percent.