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Warren shreds Treasury analysis of GOP tax plan: They 'made up the numbers'

Warren shreds Treasury analysis of GOP tax plan: They 'made up the numbers'
© Greg Nash

Sen. Elizabeth WarrenElizabeth Ann WarrenTrump's SEC may negate investors' ability to fight securities fraud Schatz's ignorance of our Anglo-American legal heritage illustrates problem with government Dems ponder gender politics of 2020 nominee MORE (D-Mass.) targeted the Treasury Department’s analysis of the GOP tax plan in a series of tweets Monday, saying officials “made up the numbers” to fit their claims.

Warren bashed the one-page analysis released earlier Monday, in which the department said that economic policies passed under President TrumpDonald John TrumpAccuser says Trump should be afraid of the truth Woman behind pro-Trump Facebook page denies being influenced by Russians Shulkin says he has White House approval to root out 'subversion' at VA MORE would raise enough revenue to cover the tax cuts in the GOP bill, which directly contradicts several independent analyses, including one from the Joint Committee on Taxation (JCT) Monday evening.

The senator, who has been a fierce critic of the tax measure, claimed that the figures used in the analysis didn’t make sense.

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She wrote that instead of using economic models, Treasury officials “just made up the numbers.”

“While @USTreasury’s OTP made other projections in this report, it didn’t make the key projection that growth would go up about .35% annually thanks to the corporate tax changes in the GOP tax bill,” she wrote.

“In other words: @USTreasury’s OTP couldn’t support Mnuchin’s claims about economic growth, so he just said it again without evidence.”

Warren also said the analysis is “completely out of line with other projections.”

“To recap: After claiming repeatedly he had projections showing the #GOPTaxScam paid for itself, Mnuchin released a report showing that there were no such projections, and that even his own wildly optimistic made-up projections weren’t enough for the plan to pay for itself,” she wrote.

“The American people deserve to know how this #GOPTaxScam will impact the economy and how it will affect middle-class families. @USTreasury promised an economic analysis – but this isn’t it,” she continued.

Democrats have largely criticized the Treasury Department’s analysis of the tax bill, with Senate Minority Leader Sen. Charles SchumerCharles (Chuck) Ellis SchumerDemocrats now attack internet rules they once embraced Schumer: Trump budget would ‘cripple’ gun background checks Schumer: Senate Republicans' silence 'deafening' on guns, Russia MORE (D-NY) slamming the projection as “fake math.”

The Joint Committee on Taxation (JCT) said in a report Monday that the bill wouldn’t produce enough revenue to pay for itself and that it would cost about $1 trillion over a decade.