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John Thune: “Every 1% increase in GDP and economic growth...generates…”

Featuring: John Thune, Republican | Senate Majority Leader, South Dakota

Interview with Margaret on Republican Legislative Strategy and Challenges

Published January 5, 2025 | Video Starts at 17:02

I believe you get a lot of that back through growth and additional revenue. Every 1% as Mr. Trump has promised. Well, that's a different subject. But I would say Every 1% increase in GDP and economic growth...generates about $3 trillion in additional tax revenue. So you're going to get some back in terms of a growth dividend and there will be spending cuts. There's no question about it. (17:02–17:10)

CLAIM

Asserts the economic impact of GDP growth on tax revenue.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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