In this fact-checking video, CNN’s Jake Tapper examines false and misleading claims made on the Sunday political talk shows by Larry Kudlow, the chief economic adviser to the president, about the Tax Cuts and Jobs Act.
President Donald Trump misleadingly inflated the benefits of the tax overhaul when he claimed it provides “$3.2 trillion … in tax cuts for American families.” It actually totals about $1.5 trillion in tax cuts for all taxpayers, including corporations.
A TV ad by a coalition of liberal groups leaves the false impression that 47 million “middle-class” households would be “stuck with the tab” for Republican tax cuts that benefit the wealthy. The 47 million figure refers to all households — not just the “middle class.”
The estimated cost of the Republican tax plan would not be the “largest tax cut in history” as a percentage of gross domestic product or in inflation-adjusted dollars, as CNN’s Jake Tapper explains in our latest fact-checking collaboration.