White House Budget Director Remains Optimistic About New Fiscal Tax Cut Deal Before End Of Year

White House Director of the Office of Management and Budget Mick Mulvaney made the rounds on Sunday morning talk shows explaining the White House position with the latest efforts to approve sweeping tax reform just days after the U.S. Senate approved a new budget deal on Thursday that added $1.5 trillion in deficit spending for future tax cuts.

Director Mulvaney was asked on CBS’s Face the Nation aired on Sunday about the reason the new Republican approved budget, which is designed to implement over a trillion in new tax cuts through deficit spending, does not achieve balance.

He said they made the decision within the Trump administration to not try and “cut their way to balance” and explained they had previously attempted to offer $54 billion worth of discretionary cuts in their budget in March but only $ 4 or 5 billion have survived so far on Capitol hill.

Director Mulvaney admitted that it’s tough to cut spending in Washington where it is designed to spend more money.

Speaking on Fox News Sunday, Director Mulvaney said that he’s heard House members in the Republican controlled House may go forward and either take the Senate amendments or else move very quickly to accept the Senate amendments which would save as many as 10 or 12 legislative days to get a new fiscal deal consisting of tax cuts done before the end of the year.

Asked about the growing $20 trillion dollar U.S. national debt level, Director Mulvaney said that as a matter of principle, the debt is a problem that must be addressed sooner than later.

“I also know that fundamental changes are necessary in the way Washington spends and taxes if we truly want to help the economy. This must include change in our government’s long-term fiscal path, which is unsustainable” Mulvaney admitted.

Written and Edited By:

John Schweitzer

@SchweitzFinance

@Schweitz31

schweitz31@gmail.com

About Johnathan Schweitzer 1565 Articles

Welcome to Schweitz Finance. I hope that my financial website will provide you with relevant market information to help you manage your investments with greater clarity and insight.

Contact: Website