Press Release
Posted:
Washington, D.C. – Today, Rep. Mike Thompson (CA-04) released the following statement in response to Congressional Republicans’ decision to change the process by which Congress calculates the cost of their tax bill in order to hide trillions of dollars in spending. Congressional Republicans are using this trick to pretend that extending the President’s 2017 tax bill, which disproportionately benefit his billionaire donors, will be free. In reality, this bill will saddle Americans with trillions more in debt.
“It’s a simple fact that this big, ugly bill is set to add $5 trillion to our national debt. It’s shameful that my colleagues on the other side of the aisle are trying to hide that fact.
“Congressional Republicans are using a budgeting gimmick to claim that the cost of extending the President’s 2017 tax bill will be zero dollars. This is as if you paid your mortgage payments for the last few years and then decided you don’t have to budget for home payments going forward. This budgeting theory would bankrupt families and businesses and will certainly bankrupt our country.
“This is flat out irresponsible. This bill will saddle our future generations with debilitating debt in order to give handouts to people who don’t need the help. Everyday Americans will be left with pennies while the wealthy reap all the benefits. Every hardworking American, regardless of party stripe, should be outraged.”