Top Republican Admits McSally Tax Giveaway Won’t Pay For Itself
Top Republican Admits That Martha McSally’s Tax Giveaway To Big Donors And Corporate Special Interests Won’t Pay For Itself
Yesterday, the Republican tax law’s “lead architect” effectively conceded that the law was justified by a false promise
The law — which is projected to send 83% of its benefits to large corporations and the richest 1% of Americans — was prefaced on a claim that benefits would “trickle down” to working families
The GOP law was never going to “pay for itself,” and Republicans have instead sought to offset their tax-breaks-for-billionaires law by slashing Medicare and AHCCCS
PHOENIX — National Republicans are coming clean about U.S. Senator Martha McSally‘s 2017 tax law, conceding that the law is not going to “pay for itself,” despite her and their initial false promises to the contrary.
Via the Washington Post:
- “Rep. Kevin Brady (R-Tex.), a lead architect of the GOP tax bill, suggested Tuesday the tax cuts may not fully pay for themselves, contradicting a promise Republicans made repeatedly while pushing the law in late 2017.”
- “Pressed about what portion of the tax cuts were fully paid for, Brady said it was ‘hard to know.'”
- “Brady’s comments are a marked departure from the claim many Republicans made during the tax bill debate that the tax cuts would be fully paid for by additional economic growth that would, in turn, spur additional tax revenues for government coffers.”
- “CBO estimated the total cost of the Tax Cuts and Jobs Act is $1.9 trillion — after taking into account additional growth and interest payments.”
When Martha McSally voted for the tax law, it was projected to send 83% of its benefits to the richest 1% of Americans and big corporations. McSally supported the measure knowing full well that it was a transfer of wealth to her big donors and corporate special interest backers.
Now, the law has increasingly been exposed as a giveaway to multinational corporations and the wealthy few, that’s leaving Arizona working families behind. On top of that, the law is expected to add nearly $2 trillion to the national debt, with new data showing that the federal deficit surged 42 percent in May compared to one year ago. And as expected, McSally has stood with her GOP allies’ as they have pushed to offset the giveaway with deep cuts to Medicare, which covers 1.2 million Arizonans, and AHCCCS, which covers 3 in 5 Arizona nursing home residents.
Martha McSally’s economic agenda has consistently put her big donors and corporate special interest backers ahead of Arizona working families, and every day brings more proof that she can’t be trusted to put Arizonans first in Washington.