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Republican talking points around tax reform centers on the need to lower them, yet there isn’t consensus between the Trump administration and Congress on what that looks like. Trump wants tax cuts without regard to the impact on the deficit; Paul Ryan, speaker of the House, in his plan, claims lowering taxes won’t increase the deficit as it is “plugging the loopholes” to pay for it. Senate Majority Leader Mitch McConnell has said any tax cut package needs to be “revenue neutral,” meaning one that would keep the budget balanced.

Source: Will GOP Tax Plan Hurt 401(k) Savers?

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