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Surging Rates Stoke GOP Tensions on Paying for Tax Cut
January 17, 2025 at 12:30 PM
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What You Need To Know
- The mood today is starkly different from 2017, when a deficit-expanding tax cut was passed.
- Yields on benchmark 10-year Treasury notes touched 4.8% this week, double what investors demanded just before Trump started his first term.
- Higher long-term rates add to the cost of the government’s debt-servicing payments.
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