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Cohn: "We can pay for the entire tax cut through growth"

Gary Cohn says the administration thinks they can pay for the $5.8 trillion tax cuts through growth. Photo: Alex Brandon / AP

President Trump's economic advisor Gary Cohn broke down some of the most controversial details of the GOP's new tax plan on CNBC Thursday morning, starting with how much the $5.8 trillion tax cuts will cost Americans:

"We don't think the tax plan will cost $2.2 trillion," as some analysts have estimated, said Cohn. "When people come out with these numbers they have a very static view of the tax plan, and don't incorporate the growth...We think we can pay for the entire tax cut through growth over the cycle... and can get the U.S. to substantially more than 3% growth with tax reform and deregulation."