Former Clinton Treasury Secretary Robert Rubin told CNBC on Thursday the kind of tax reform promised by President Donald Trump and House Speaker Paul Ryan would boost economic growth.
The basic rate of growth for this year and next year is around 2 or 2-¼ percent, Rubin said on “Squawk Box.” “Though people are lowering their estimates lately,” he added.
Tax cuts would provide “some stimulus” to get growth to about 2-½ percent growth, “something like that,” Rubin said. He questioned, however, whether the Republican-controlled White House and Congress can deliver on their tax-reform promises.
The polarizing border adjustment tax provision that’s part of the House GOP’s overall plan to reduce corporate taxes is ” bad policy,” Rubin said. “The probability of the border tax happening is remote.”