As President-elect Donald Trump gears up to take office, his Republican colleagues in Congress are voicing concerns that his ambitious tax-cut plans could be undermined by the escalating bond yields.
What Happened: House Republicans recently convened in a private meeting on Capitol Hill, where they voiced concerns about the potential $4 trillion price tag for extending the 2017 Trump tax cuts over the next decade, reported Reuters on Thursday. The GOP worries that this could put additional strain on the U.S. government’s ability to handle its growing $36 trillion debt, which is expanding by $2 trillion each year.
“The buyers of our bonds are getting nervous that we’re at the point that we cannot pay it back. That affects every one of us,” Rep. Ralph Norman (R-S.C.) stated to the press.
The U.S. bond market is closely monitoring the incoming Trump administration and its Congressional allies, who are preparing to…
