Washington, D.C. – On Sunday, Rep. Mark Meadows (R-NC) appeared alongside Rep. Peter King (R-NY) on ABC’s This Week with George Stephanopoulos. The two members discussed the new GOP tax reform proposal, which is going through the committee amendment process beginning today.
“It’s a work in progress,” Meadows said, but “preliminary numbers look very good in terms of economic growth. As I have looked at this particular bill, it appears that we should be able to get a 3.5 to 3.6 percent bump in GDP growth. When we do that, it means higher wages and a stronger economy.”
Meadows once again addressed the concern on increasing the deficit in the short run, reiterating that while he would prefer to cut both spending and taxes, the economic growth and relief for working families is worth the short-term exposure.
“Over a longer period of time, some 10 to 15 years, we believe that the economic growth will outweigh any short-term deficit increase that we see,” said Meadows, “so even though we’re looking at increasing the deficit in the short run, over a 15-year period, we could have these tax cuts paid for because of economic growth.”