Boyle Statement on Yet Another Republican Attempt to Reward Billionaires

WASHINGTON, DC – Congressman Brendan F. Boyle (PA-02), Ranking Member of the House Budget Committee, released the following statement ahead of a vote on H.J. Res. 139, House Republicans’ “balanced budget” constitutional amendment.

“American families don’t need a lecture on fiscal responsibility from the same politicians who just added $4 trillion to the debt with their so-called ‘Big Beautiful Bill’—one of the most expensive pieces of legislation in American history,” said Ranking Member Boyle. “When it comes to cutting taxes for billionaires, they have never had a problem blowing up the deficit. This amendment is nothing more than a show to cover up their hypocrisy on the debt.”

Background:

• Over the past 25 years, Republican tax cuts and their extensions have already added roughly $10 trillion to the debt. Now, their Big Ugly Law will add an additional $4 trillion to the debt.
• If not for tax giveaways to the ultra-wealthy and corporations under Republican Presidents – most egregiously under President Trump – revenues would have been on track to keep pace with spending indefinitely.
• H.J. Res. 139 would ensure the ultra-wealthy never have to pay their fair share by requiring a two-thirds supermajority to raise revenues, while allowing tax breaks for billionaires and big corporations to pass with a simple majority.

###