Economic upheaval caused by the pandemic has clouded analysts’ ability to understand the effects of the 2017 tax law. Republicans call it a huge success and want to extend it anyway.

(Reuters) - Scott Bessent, U.S. President-elect Donald Trump's choice to head the Treasury Department, on Thursday said that extending Trump's 2017 tax cuts that are set to expire at the end of this year is "the single most important economic issue of the day."

GOP tax writers are gathering support for creative ways to make the price tag $0 for extending Trump's 2017 tax cuts. Why it matters: The procedural and budgetary gambit will free Republicans from the burden of finding the $4 trillion in spending cuts.

President-elect Donald Trump has put maintaining his massive 2017 tax cut at the top of his economic agenda, but there are indications that Republicans will have to pay for them with massive spending cuts to the federal budget if they want to avoid triggering major interest rate increases on American debt.