Chairman Arrington on The Ben Shapiro Show: “We Have to Extend the Tax Cuts”
WASHINGTON, D.C. –Today, House Budget Committee Chairman Jodey Arrington (R-Texas) joined The Daily Wire’s The Ben Shapiro Show to discuss the need for Congress to quickly pass the One Big Beautiful Bill Act, the principal legislative vehicle for advancing President Trump’s full America First agenda.
Watch Chairman Arrington’s full interview with Ben Shapiro HERE.
Find highlights of key moments below.
Chairman Arrington on Responsibly Extending the Tax Cuts and Jobs Act (TCJA):
“We have to extend the tax cuts. We have to grow the economy. We have other pro-growth policies, like the largest deployment of federal energy assets in the history of the country. Work incentives, tools to help the President deregulate this economy after trillions of dollars of regulations that have hamstrung mostly the medium and small businesses. So, growth is a part of the equation to restoring fiscal health and bringing down the debt-to-GDP.
“I think this bill will have a meaningful impact on our growth. But what we did from the outset is say we’re not just going cut taxes and not offset the cost…And then of course, we do make the largest investment in strengthening our security — border security and defense. But we need to offset that. We need to be responsible. So, this bill does those things on security, does those things to promote growth, but does not add to the deficit. In fact, it modestly reduces the deficit over the 10-year budget window. And because of growth, reduces the debt-to-GDP by 10 percentage points.”
Chairman Arrington on the Consequences of Not Extending TCJA:
“The tax cuts expiring [would be] a four and a half trillion-dollar tax hike on the American people and our job creators would be devastated. We would certainly be in a recession, and we’re talking about 26 million small businesses not getting the comparable treatment to the corporate rate that was reduced.
“But just on an individual basis, 91 percent of the American people take the standard deduction. That would be cut in half. Forty-five million people get a child tax credit. That would be cut in half. On average, the American people would receive a 22 percent tax increase…We’ve got to extend the tax cuts.”
Chairman Arrington on Reversing the Curse of Biden’s Spending Spree:
“Spending lit the fuse on the cost-of-living crisis. We’re also dangerously close to a sovereign debt crisis if you look at the bond markets and our Treasury 30-year bond yields. So, we do cut more spending than we ever have in the history of the country by two times. But there’s always more waste and opportunity for structural reforms in a balance sheet that’s going to add $125 trillion in cumulative debt over the next 30 years.”
MORE FROM THE HOUSE BUDGET COMMITTEE
Find Chairman Arrington’s opening remarks at the House Rules Committee hearing on the One Big Beautiful Bill Act HERE.
