Penn Wharton Budget Model’s Response to White House’s Recent Critique of PWBM’s Tax Plan Analysis

A little over a week ago, Dr. Kevin Hassett, the Chairman of the Council of Economic Advisers, commented on the Penn Wharton Budget Model (PWBM) analysis of the Tax Cuts and Jobs Act. That’s the legislation that began in 2018 to cut taxes on corporations and most Americans. Dr. Hassett, speaking before the American Economic Association, disputed many of the claims made by the PWBM. The PWBM’s assessment of the impact of the tax cut plan included a slight increase in GDP and an increase in the Federal Deficit. Host Dan Loney talks with Richard Prisinzano, Senior Economist with the PWBM, who also spent 13 years in the Office of Tax Analysis at the Treasury Department, and Kimberly Burham, Managing Director of Legislation and Special Projects with the PWBM, to respond to the Chairman’s criticism on Knowlege@Wharton.