WASHINGTON, DC – House Democratic Whip Steny H. Hoyer (MD) released the following statement today on the Treasury Department’s assessment of the GOP tax scam bill:
“This ‘analysis’ by the Treasury Department is a new low for putting politics over policy. It should surprise no one that the Trump Administration, in its desperation to justify the Republican tax scam, issued a one-page document assuming the President’s promised level of growth without any justification. It attributed much of its assumed economic expansion to a vague list of initiatives beyond taxes, many of which this Administration has yet to propose. Baselessly asserting that the economy will grow faster simply because one says so is both disingenuous and dangerously misleading.
“Regardless of fanciful promises from the Administration’s political leadership, it is telling that the dedicated career professionals in the Office of Tax Policy affirm in the analysis that tax cuts do not pay for themselves, as the actual tax bill passed by the Senate will add more than $1 trillion to deficits. It shows that this document is a blatant politicization of the role of nonpartisan technical analysts in order to justify a rushed and partisan tax scam that gives more than 60% of the benefits to the top one percent while raising taxes on 78 million middle-class households, ballooning deficits by more than $1 trillion, triggering a $25 billion cut to Medicare next month, and kicking 13 million Americans off their health insurance coverage.
“Instead of pursuing this tax scam, Republicans ought to be working on a plan to prevent a dangerous and costly government shutdown. They asked for two additional weeks to fund the government, even after refusing to do so for the twelve additional weeks they requested in September, yet they are setting up another eleventh-hour crisis that need not occur because of their fixation on cutting taxes for the wealthy.”