The principles of his tax plan -- presented Wednesday in a one-page document -- offered enough detail to suggest that Trump's preferred tax changes will add a ton to deficits. Given that the plan is similar to what Trump proposed on the campaign trail, the Committee for a Responsible Federal Budget did a rough cost estimate of his latest ideas and concluded they could cost $5.5 trillion in lost revenue during the first decade. CRFB estimates the overall cost could go as high as $7 trillion if limits on tax breaks that the plan suggests apply only to high earners. Or the cost could fall to $3 trillion "assuming credits and exclusions are eliminated as well as deductions." Related: Trump relies on magic wand of growth to pay for tax cutsBut what about economic growth?

Source: CNN April 27, 2017 16:18 UTC