September 28, 2017 / 12:29 PM / a year ago

White House's Cohn says now sees more than 3 percent growth to pay for tax plan

WASHINGTON (Reuters) - White House economic adviser Gary Cohn on Thursday said the administration now expects U.S. economic growth to be “substantially” higher than 3 percent, saying the boost would pay for Republicans’ tax plan.

FILE PHOTO: National Economic Council Director Gary Cohn speaks at 2017 Institute of International Finance (IIF) policy summit in Washington, U.S., April 20, 2017. REUTERS/Yuri Gripas/File Photo

“We think we can pay for the entire tax cut through growth over the cycle,” Cohn told CNBC. “Our plan was based on a 3 percent GDP growth. We think we can now be substantially above 3 percent GDP growth,” citing the administration’s plans on deregulation and tax reform.

Reporting by Susan Heavey; Editing by Chizu Nomiyama

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