Yarmuth Statement on JCT Score Confirming GOP Tax Scam Will Drive Up Deficits
Washington, D.C. – Kentucky Congressman John Yarmuth, Ranking Member of the House Budget Committee, released the following statement on the “dynamic” score of the Senate GOP tax bill from the Joint Committee on Taxation (JCT), which confirms that the Republican tax cuts for the wealthy will increase deficits by more than $1 trillion, even when considering any possible economic growth.
“The Joint Committee on Taxation score definitively debunks the Republican myth that tax breaks for the wealthy pay for themselves. Even when considering any possible economic growth from tax breaks for the wealthy, which Congressional Republicans have long insisted will magically make up for lost revenue, the JCT confirmed their tax plan will add more than $1 trillion to the deficit over the next ten years alone. Without a doubt, the Republican plan is a tax scam. It is irresponsible and reckless, and for the sake of our nation’s future it must be defeated.”