The Republican tax plan, he said “grows the economy. The pay-as-you-go law requires that legislation that adds to the federal deficit be paid for with spending cuts or other offsets. If that does not happen, automatic cuts to programs like Medicare kick in. Senator Ron Wyden of Oregon, the top Democrat on the Finance Committee, said previous Republican tax cut efforts had paved the way for sweeping spending cut proposals after the red ink reared its head. For now, Republicans are playing down the likelihood that Medicare cuts will come to pass.

Source: New York Times November 15, 2017 09:56 UTC