WASHINGTON (AP) — A look at one of President Donald Trump’s statements from his prepared State of the Union address on Tuesday night and how it compares with the facts:
TRUMP: “We enacted the biggest tax cuts and reform in American history.” — excerpt released by White House.
THE FACTS: No truer now than in the countless other times he has said the same. The December tax overhaul ranks behind Ronald Reagan’s in the early 1980s, post-World War II tax cuts and at least several more.
An analysis by the Committee for a Responsible Federal Budget in the fall put Trump’s package as the eighth biggest since 1918. As a percentage of the total economy, Reagan’s 1981 cut is the biggest followed by the 1945 rollback of taxes that financed World War II.
Valued at .5 trillion over 10 years, the plan is indeed large and expensive. But it’s much smaller than originally intended. Back in the spring, it was shaping up as a .5 trillion package. Even then it would have only been the third largest since 1940 as a share of gross domestic product.
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EDITOR’S NOTE _ A look at the veracity of claims by political figures