A reminder ahead of today's GOP tax scam hearing...
Before Republicans try to tell you that their GOP tax scam pays for itself at today’s Ways and Means Committee hearing – the very first hearing on H.R. 1 – we wanted to remind folks of this op-ed by former Congressional Budget Office Director Douglas Holtz-Eakin, who is testifying today. You can read it in full here, but here are key quotes:
“Proposing trillions of dollars in tax cuts and then casually asserting that such a plan would ‘pay for itself with growth,’ as Treasury Secretary Steven Mnuchin said, is detached from empirical reality.”
“…Never has a dynamically scored analysis concluded that a proposal would ‘pay for itself with growth,’ and no serious economist would make such a claim.”
No matter what Republicans say today, the fact is that the Congressional Budget Office found last month that the tax scam is on track to explode the deficit by $1.8 trillion over the next decade. “…Never has a dynamically scored analysis concluded that a proposal would ‘pay for itself with growth,’ and no serious economist would make such a claim.”