IMF: US Tax and Spending Bill Contradicts Recommendations
July 3, 202544 ViewsRead Time: 1 minutes
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IMF spokesperson Julie Kozack said today, Thursday, that the massive tax and spending bill in the United States, set to be voted on in Congress, contradicts the IMF's recommendations for Washington to reduce the fiscal deficit over the medium term.
Kozack added in a regular press briefing that there is a consensus that the financial policy bill adopted by Republicans will increase the US fiscal deficit, but Washington needs to start putting its public finances in order.
She went on to say, "From the IMF's perspective, we are firm in saying that the United States will need to reduce its fiscal deficit over time to put the public debt-to-GDP ratio on a downward path".
Kozack added in a regular press briefing that there is a consensus that the financial policy bill adopted by Republicans will increase the US fiscal deficit, but Washington needs to start putting its public finances in order.
She went on to say, "From the IMF's perspective, we are firm in saying that the United States will need to reduce its fiscal deficit over time to put the public debt-to-GDP ratio on a downward path".
