Trump tax plan may produce some short-term budget issues: MnuchinWASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Saturday that the Trump administration’s tax reform plan would produce some “short term issues” when viewed under traditional “static” budget analysis rules. His comments during an interview by International Monetary Fund Managing Director Christine Lagarde suggested that the plan would not be revenue-neutral and would increase deficits in the short term. Mnuchin said that the tax plan would pay for itself when viewed through a “dynamic scoring” analysis, which accounts for the increased tax revenues that would be produced by higher growth prompted by the tax changes. “We’re looking for reforms that will pay for themselves with growth,” Mnuchin said. “Under dynamic scoring, this will pay for itself, under static scoring, there’ll be short term issues.” Mnuchin also said the tax plan would be aimed at helping the middle class to “get more money in their pockets” and would be much simpler. “The tax code is way, way, way too complicated. We want to create a system where the average American can file a tax code on a big postcard,” Mnuchin said. politicsNews
trump tax plan may produce budget issues mnuchinwashington reuters treasury secretary steven mnuchin said saturday trump administration tax reform plan would produce short term issues viewed traditional static budget analysis rules his comments interview international monetary fund managing director christine garde suggested plan would would increase deficits short term mnuchin said tax plan would pay viewed dynamic scoring analysis accounts increased tax revenues would produced higher growth prompted tax changes we looking reforms pay growth mnuchin said under dynamic scoring pay static scoring short term mnuchin also said tax plan would aimed helping middle class get money pockets would much simpler the tax code way way way complicated we want create system average american file tax code big postcard mnuchin said politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Trump tax plan may produce some short-term budget issues: MnuchinWASHINGTON (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Saturday that the Trump administration’s tax reform plan would produce some “short term issues” when viewed under traditional “static” budget analysis rules. His comments during an interview by International Monetary Fund Managing Director Christine Lagarde suggested that the plan would not be revenue-neutral and would increase deficits in the short term. Mnuchin said that the tax plan would pay for itself when viewed through a “dynamic scoring” analysis, which accounts for the increased tax revenues that would be produced by higher growth prompted by the tax changes. “We’re looking for reforms that will pay for themselves with growth,” Mnuchin said. “Under dynamic scoring, this will pay for itself, under static scoring, there’ll be short term issues.” Mnuchin also said the tax plan would be aimed at helping the middle class to “get more money in their pockets” and would be much simpler. “The tax code is way, way, way too complicated. We want to create a system where the average American can file a tax code on a big postcard,” Mnuchin said. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: trump tax plan may produce budget issues mnuchinwashington reuters treasury secretary steven mnuchin said saturday trump administration tax reform plan would produce short term issues viewed traditional static budget analysis rules his comments interview international monetary fund managing director christine garde suggested plan would would increase deficits short term mnuchin said tax plan would pay viewed dynamic scoring analysis accounts increased tax revenues would produced higher growth prompted tax changes we looking reforms pay growth mnuchin said under dynamic scoring pay static scoring short term mnuchin also said tax plan would aimed helping middle class get money pockets would much simpler the tax code way way way complicated we want create system average american file tax code big postcard mnuchin said politicsnews