The American Action Forum’s Gordon Gray considers the context of the Joint Committee on Taxation’s estimate of the tax reform bill’s impact on economic growth. Below is an excerpt:

Many critics of the tax bill have latched on to the report’s key finding that the bill would increase GDP by 0.8 percent over the next ten years—well short of the amount of economic growth needed for the net tax cut to “pay for itself.” But for serious analysts, this argument was always a straw man and its destruction shouldn’t meaningfully alter the national tax policy debate. Instead, the JCT offers another very useful and unsurprising estimate of how changes in tax and budget policies can interact with the overall economy

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