Republican House speaker floats deregulation, tax cuts — not tariffs — to pay for Trump proposals

• Republican House Speaker Mike Johnson said Donald Trump can pay for his presidential campaign's economic proposals by rolling back regulations and expanding tax cuts to stimulate growth.
• Trump's policy proposals so far could add at least $5.8 trillion to the federal deficit over the next ten years, according to the Penn Wharton Budget Model.
• Trump has proposed paying for his plans with a hardline tariff on all imports, with an especially high rate for Chinese imports.

Republican House Speaker Mike Johnson on Wednesday said former President Donald Trump could pay for his presidential campaign's economic proposals by rolling back corporate regulation and expanding tax cuts to stimulate growth.

"You have to bring about a pro-growth economy, and you do that with a combination of aggressive use of the tax code and reduction in government regulation," the Louisiana lawmaker said on CNBC's "Squawk Box."

"If you get Republican leadership in the White House, the Senate and the House, unified government, we will put this thing on turbo. You will see massive regulatory reform," he said.

Trump has proposed making his 2017 tax cuts permanent and further lowering the corporate tax rate, as well as wholly eliminating federal income taxes on worker tips, overtime pay and Social Security benefits.

An August study from the nonpartisan Penn Wharton Budget Model found that Trump's policy proposals could add an estimated $5.8 trillion to the federal deficit over the next ten years.

That figure did not include Trump's Sept. 12 proposal to exempt overtime pay from federal income taxes.

If applied only to pay that is currently designated as overtime, the proposal would add an estimated $866 billion to the total cost of Trump's proposals over