U-S Senator Ron Johnson isn’t buying projections from the Joint Committee on Taxation about the impact of tax reform. The Wisconsin Republican decided to support his party’s bill. The committee estimated last week the Senate tax bill will increase the federal debt by more than one-trillion dollars over the next decade, but Johnson dismisses that as a “joke.” The committee found tax cuts would trigger economic growth, but not enough to off-set one-point-six-trillion dollars in lost revenue as the result of the cuts. The bill would be the biggest tax code overhaul in the last 30 years. Democrats were complaining that they weren’t being given enough time to read the bill before voting on it. Passage was final at about 2:00 a-m Saturday morning. Now, it goes back to the House of Representatives.
