(Some) defenders of the Tax Cuts and Jobs Act as passed argue that tax cuts for households will be extended, rather than disappearing by 2027. What does that mean for debt?

Source: CRFB. Note: Differs from gross debt by netting out intra-Federal government holdings.

CRFB estimates FY2019 deficits will be $1.1 trillion.

Fortunately, the President has stated he will not sign a tax bill that he believes will increase the budget deficit.