Republican House Speaker Mike Johnson on Wednesday said former President Donald Trump could pay for his presidential campaign's economic proposals by rolling back corporate regulation and expanding tax cuts to stimulate growth.
"If you get Republican leadership in the White House, the Senate and the House, unified government, we will put this thing on turbo.
Trump has proposed making his 2017 tax cuts permanent and further lowering the corporate tax rate, as well as wholly eliminating federal income taxes on worker tips, overtime pay and Social Security benefits.
That figure did not include Trump's Sept. 12 proposal to exempt overtime pay from federal income taxes.
A tax exemption for all hours worked over 40 hours per week would cost an estimated $1.3 trillion over 10 years.
Persons:
Mike Johnson, Donald Trump, Trump
Organizations:
Senate, Social Security, Penn Wharton Budget Model, Yale Budget, Republican
Locations:
Louisiana