Trump proposal to exempt tips from taxes could cost $250 billion
CBSN
Former President Donald Trump's vow to stop taxing tips would cost the federal government up to $250 billion over 10 years, according to a nonpartisan watchdog group.
The proposal — made by Trump for the first time just over a week ago in Nevada — would increase the nation's red ink between $150 billion to $250 billion and possibly much more if it were to cause a shift in more overall compensation from wages to tips, the Committee for a Responsible Federal Budget said in its analysis released Sunday.
In making a pitch to win over voters in a battleground state that is largely dependent on the hospitality industry, Trump told a June 9 rally off of the Las Vegas strip that he would get rid of taxes on tips, "right away, first thing in office, because it's been a point of contention for years and years and years."
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