GOP ponders tax overhaul's effect on deficit

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WASHINGTON (AP) — Senate Republicans are struggling with how many billions of dollars President Donald Trump's tax code overhaul will add to the deficit as they work on a GOP budget plan that's a prerequisite to any far-reaching change in the nation's tax system.

Senate Majority Leader Mitch McConnell and GOP members of the Budget Committee met Tuesday with Trump's top economic adviser, Gary Cohn, and Treasury Secretary Steven Mnuchin. They are hoping to make progress on forging the budget plan, which is required to stave off potential Democratic blocking tactics and pass the subsequent tax bill only with GOP votes.

Mnuchin says, "Passing tax reform, which hasn't been done in 31 years, that is a win."

The as-yet-undrafted bill to overhaul the tax code is the top priority for Trump and Republicans.