Tax & Spend

Jim Millstein Says US Risks ‘Fiscal Disaster’ If Recession Hits

Millstein on US Downgrade, Tariffs, Trump Tax Bill

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By Liz Capo McCormick

May 19, 2025 at 12:21 PM EDT

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Washington lawmakers are risking a “fiscal disaster” if a recession hits as they plow on with their package of sweeping tax cuts, according to Guggenheim Securities Co-Chair Jim Millstein.