(NEWSWEEK)  Nicole Goodkind, December 13, 2017 — After months of pressure from watchdog groups, the U.S. Department of the Treasury, led by Trump appointee Steve Mnuchin, has released a one-page analysisof the Republican tax bill. The report shows that even when analyzed under Republican-favored methods, the tax cuts will enlarge the federal deficit and require additional policy changes to create the revenue needed to pay for them.

The analysis shows that only half of the growth will come from the trickle-down effect of the tax cuts. The other half would be spurred by a “combination of regulatory reform, infrastructure development, and welfare reform.” This means that in order for the tax plan to make up for its estimated $1.5 trillion addition to the federal debt, Congress will have to pass sweeping infrastructure legislation and cuts to entitlement programs like Medicare and Social Security, as well as other unspecified regulatory reform.

The report also assumes that the economy will experience nearly 3 percent in growth over the next 10 years—that’s a level of growth the U.S. hasn’t seen since 2005. “We acknowledge that some economists predict different growth rates,” the Treasury wrote in the document.

Source: newsweek.com/tax-plan-treasury-social-security-medicare-republicans-trump-744391