Dr Oren Cass, a fellow at the Manhattan Institute and domestic policy director of Republican Mitt Romney's 2012 presidential bid, said the plan for one per cent cuts in some programs would not be enough to pay for Mr Trump's proposals.
Because dynamic-scoring models anticipate that people will work, buy and invest more when their taxes are lower - generating economic growth - the models typically find that tax cuts cost less than static models predict.
Republican presidential candidate Donald Trump proposed a bold economic plan on Thursday, promising 25 million new jobs and an annual average of 3.5 percent economic growth. Washington-area policy analysts, including the conservative-leaning Tax Foundation, said the plan would cost the U.S. Treasury roughly $10 trillion in revenue over a decade. To offset those losses, Trump said he would generate even further economic growth via increased energy production and reductions in trade deficits, and that he would cut $1 trillion over a decade from the federal budget - without touching Social Security, Medicare, Medicaid or defense.
"My great economists don't want me to say this but I think we can do better than that. and maybe substantially better than that", he said, of the 4 percent growth target he said he'd set as a "national goal".
He has suggested that the Fed has created a false economy with low interest rates. The fact sheet released by the campaign did not say exactly what levels of income would be taxed at each rate, but said the cutoffs would largely match a proposal by House Republicans.
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"Trump took the budgetary criticism seriously, and made a case that it actually adds up", said Douglas Holtz-Eakin, who was John McCain's economic policy director in the 2008 campaign and now is president of the American Action Forum. Trump is outlining the economic plan he wishes to impose should he win the November 8 presidential election. (The I.R.S. chief has said that being audited does not preclude their release.) Trump has also offered a series of secondary excuses, posed as challenges.
He said that "excessive regulation" costs Americans almost $2 trillion a year. "Will Donald Trump Now Release His Tax Returns?". Trump said that would reduce spending by $1 trillion over a decade.
It summarized lab findings from Trump's physical last week, saying his cardiac, liver, thyroid and other test results were normal for a 70-year-old man. He also called for the business tax rate to be reduced from 35 percent to 15 percent.
Trump has proposed cutting the tax rates for individuals across the board, taking the top tax rate to 33 percent - down from 39.6 percent now.
Rep. Jared Huffman's (D-Calif.) bill would require presidential and vice presidential candidates to include a statement from the Treasury Secretary confirming whether or not the IRS is auditing their federal income tax returns as part of financial disclosure reports.
