New CBO Analysis Exposes GOP’s Reckless Plan to Explode the Deficit and Betray Working Families

WASHINGTON, DC — Congressman Brendan F. Boyle, Ranking Member of the House Budget Committee, released the following statement after a new Congressional Budget Office (CBO) analysis revealed that extending the 2017 Trump Tax Scam would not significantly grow the economy, contrary to Republican claims. According to previous CBO analysis, extending these tax cuts would add $4.6 trillion to the deficit. 

“This nonpartisan analysis confirms the ugly truth: House Republicans are lying to push through another massive tax giveaway to billionaires and big corporations. These tax cuts don’t pay for themselves—they never have, and they never will. Economists across the spectrum agree.

Adding $4.6 trillion to the deficit isn’t just reckless—it’s a direct attack on the hardworking families Republicans claim to represent. They will use this skyrocketing debt as an excuse to slash vital programs that working people depend on—health care, housing, education—programs that provide stability and opportunity for millions of Americans. Meanwhile, billionaires and large corporations, who already have more than enough, will walk away with massive tax breaks they don’t need.

The hypocrisy is breathtaking. Republicans lecture us about fiscal responsibility when it comes to helping working families, but they have no problem blowing up the deficit to reward the wealthy and well-connected.

The GOP’s priorities couldn’t be clearer: billionaires first, families last. This is economic malpractice and a slap in the face to every hardworking American. I will continue fighting this reckless plan and standing up for the families who deserve better.”

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