House Budget Committee Fact Sheet

President Trump’s destructive and irrational budget leaves working families out in the cold while it doubles down on the failed 2017 GOP tax law, extending expiring provisions and adding $1.5 trillion more to debt over the last six years of the budget window. Most of this extension’s tax breaks go to the richest one-fifth of households. Two years in, mounting evidence continues to show the GOP tax scam showered benefits on the rich and large corporations, failed to “supercharge” our economy, worsened income inequality, and left the middle class behind. A few weeks ago, President Trump said he aims to pass a second round of tax cuts – a “very big” middle-class tax cut – which his campaign will unveil ahead of the 2020 election. He has made this same promise before, including right before the 2018 midterm elections, when it seemed to surprise Administration officials who were in the dark. Not surprisingly, the President’s budget for 2021 fails to live up to this promise.