Pence: Tax plan may increase deficit ‘in the short term’

Vice President Mike Pence on Sunday conceded that President Trump’s tax reform proposal may increase the deficit “in the short term.”

“Maybe in the short term,” Pence told NBC’s “Meet the Press” when pressed by host Chuck Todd.

“But the truth is, if we don’t get this economy growing at 3 percent or more, as the president believes we can, we’re never going to meet the obligations that we’ve made today.”

{mosads}Pence emphasized the need for economic growth and tax relief. 

“The American people are crying out for tax relief,” said Pence. 

The Trump administration last week rolled out its outline for tax reform, which included a cut to the top income tax rate for individuals in addition to lower corporate tax rates.

The president, who reached his 100-day mark in office on Saturday, has billed the tax plan as one of the largest tax cuts in U.S. history.