The Joint Committee on Taxation just released a new study estimating that, even using Republicans’ preferred accounting method, the House tax bill would add $1 trillion to the U.S. deficit. This comes hours after the Treasury Department was forced to admit that Sec. Steve Mnuchin’s repeated promises were false and that the Trump-Republican tax plan would increase the U.S. deficit – not pay for itself.
“Congress’s independent tax experts have now discredited – yet again – the absurd claim that this tax windfall for the rich and corporations at the expense of the everyone else will do anything but add at least $1 trillion to our national credit card,” said American Bridge spokesperson Andrew Bates. “Even the Trump Administration itself can’t defend this baseless argument anymore. The American people are rejecting this plan that sells-out the middle class with tax increases on millions of families, cuts to […]Read more after the jump.