Debating the ‘biggest’ cuts in Trump’s tax plan

NEW YORK, NY - SEPTEMBER 28: Republican presidential hopeful Donald Trump gives a speech outlining his vision for tax reform at his skyscraper on Fifth Avenue on September 28, 2015 in New York City. Under the plan there would be four tax categories, with people earning less than $25,000 per year paying 0% tax. (Photo by Andrew Burton/Getty Images)

President Trump is set to unveil what his Treasury Secretary calls the biggest tax cut in US history.

It won't be a formal bill, but what the White House calls principles for its overhaul. The business tax rate would drop to 15-percent, versus the current 35-percent corporate rate. With such a steep revenue drop, how would Congress pay for it?

Guests:

Chris Edwards, an economist and director of tax policy at the Cato Institute; he is also editor of DownsizingGovernment.org, a Cato project that focuses on federal spending

Harry Stein, director of fiscal policy at the Center for American Progress, a left-leaning educational, public policy research, and advocacy organization; he has been following the debate on President Trump’s tax plan

Kyle Pomerleau, economist and director of federal projects at the Tax Foundation, where he oversees the center’s research

Pete Peterson, dean of the School of Public Policy and senior fellow at The Davenport Institute at Pepperdine University

Caroline Heldman, associate professor of politics at Occidental College and co-author of "Rethinking Madam President: Are We Ready for a Woman in the White House?" (Lynne Rienner Pub, 2007)