Pelosi Inflates Tax Cuts

Democratic House leader Nancy Pelosi claimed that the new tax law will provide “at least a $1.3 trillion tax break for corporations.” That’s misleading.

It’s true that the nonpartisan Joint Committee on Taxation that cutting the top corporate tax rate from 35 percent to 21 percent will reduce federal tax revenues by $1.35 trillion over 10 years — the figure that Pelosi cited. But taxes for corporations, resulting in a net savings of less than half of that.