If passed, Republicans’ sweeping tax and border bill would deliver direct financial relief to Americans and spark strong economic growth, Stephen Miran, chair of the Council of Economic Advisers, said Monday on Newsmax.
Miran pointed to direct family benefits, noting that take-home pay would increase substantially. “Take-home pay for a typical family of four — a family with two kids — is going to go up by about $8,000 to $13,000 over the course of the next few years,” he said.
On the contrary, “it’s absolutely a direct impact on Americans,” Miran said during an appearance on “The Record With Greta Van Susteren.” “If this bill doesn’t pass, it [there] will be a $4 trillion tax hike on Americans, the biggest in history, and almost certainly throw us into a severe recession.”
The legislation — combining tax cuts and border security provisions — advanced out of a key House committee in a rare Sunday evening session. The movement came after GOP lawmakers who had stalled the bill over deficit concerns agreed to let it proceed, citing ongoing negotiations on spending reductions, NPR reported.
House Speaker Mike Johnson, R-La., told reporters ahead of the vote that some modifications had been made, though he described them as “just some minor modifications. Not a huge thing.” Republicans have not yet released full details of the adjusted bill.
Rep. Jodey Arrington, R-Texas, chair of the House Budget Committee, echoed that talks were ongoing. “Deliberations continue at this very moment,” Arrington said Sunday. “They will continue on into the week, and I suspect right up until the time we put this big, beautiful bill on the floor of the House.”
In his interview, Miran emphasized the economic boost the legislation could provide. “If the bill does pass, GDP is going to be about 4.2 to 5.2% higher than it otherwise would be,” he said. “We’re going to create 7 million new jobs.”
Miran cited recent research from his office to support the administration’s economic projections. “We here at the Council of Economic Advisers, we just published a really thorough research paper where we go through all these findings and more about all the good this one big, beautiful bill is going to do for the country.”
The bill’s passage remains uncertain as Republicans continue to finalize spending cuts to secure enough votes. Meanwhile, Democrats on the budget panel have pressed for more transparency, urging GOP leaders to release full legislative text and economic analysis before any floor vote.
Still, Miran expressed optimism that the bill, if enacted, would provide the kind of direct financial uplift Republicans are promising. “This bill puts money in the pockets of Americans,” he said.
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