Fact-checking Biden's claims on tax cuts and economic plan
===============	
#eebe0f3d ver:0.24

Lawmakers debate raising taxes or cutting spending to address rising deficits and debt. Tax cuts and spending increases both contribute to the debt, with tax cuts benefiting the affluent. The US debt problem requires addressing both revenue and spending. Former Treasury Secretary Larry Summers suggests strengthening IRS enforcement to raise more tax revenue. Stabilizing the national debt would require spending cuts or tax increases equivalent to 2.8% of GDP annually. The Biden administration aims for deficit reduction and has ruled out tax increases for households earning less than $400,000. The US federal budget needs better management and consideration of spending priorities. Extending the Tax Cuts and Jobs Act would cost the economy billions. Biden and Trump both added to the national debt, with Biden's spending including infrastructure and clean energy investments. The OECD urges Biden to raise income tax and cut pensions spending to address the rising debt. Biden's claims about tax cuts and his economic plan lack context and accuracy. #TaxCuts #Debt #Spending #Deficit #IRS #NationalDebt #Biden #Trump #EconomicPlan #OECD...

#newstr #NationalDebt #Biden #Trump #TaxCuts #Spending 

 https://here.news/story/eebe0f3d?ver=0.24