Trump’s big-bucks sales tax hike could boost U.S. economy and boost U, S. economy August 19, 2021 August 19, 2021 admin

The White House is pushing back against calls to increase the country’s sales tax rate to fund infrastructure projects.

Trump’s tax plan would boost the federal government’s gross domestic product by about $1 trillion over the next decade, according to a report Thursday from the nonpartisan Tax Policy Center.

The Tax Foundation, a nonpartisan Washington think tank, estimates the tax cut could be worth as much as $1.7 trillion in the long run.

But some Republican lawmakers and industry groups are concerned that raising the sales tax will hurt businesses and consumers, according, to Axios.

The Trump administration has said it is committed to increasing the tax on corporate profits and corporate income, which the White House says will spur businesses to invest in U.s. infrastructure.

The White Senate last week passed a bill that would raise the sales-tax rate to 35 percent.