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IMF Warns: Trump Tax Law May Worsen US Fiscal Deficit and Debt Burden Issues
Summary: According to sources, the International Monetary Fund (IMF) has warned that the upcoming Trump tax law may make the task of reducing the fiscal deficit and debt burden in the coming years more complex. IMF spokesperson Julie Kozack stated that the US needs to gradually reduce public borrowing in order to significantly reduce the ratio ...
According to sources, the International Monetary Fund (IMF) has warned that the upcoming Trump tax law may make the task of reducing the fiscal deficit and debt burden in the coming years more complex. IMF spokesperson Julie Kozack stated that the US needs to gradually reduce public borrowing in order to significantly reduce the ratio of debt to GDP, which is an important measure of debt sustainability. Kozack noted that the law appears to contradict the goal of reducing debt in the medium term. The IMF typically defines the medium term as three to five years. According to data from the Congressional Budget Office, the law will increase the deficit by $3.3 trillion.
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Link: IMF Warns: Trump Tax Law May Worsen US Fiscal Deficit and Debt Burden Issues [Copy]
