GOP tax bill author admits it doesn't pay for itself -- contradicting key Republican talking point
Published 2 hours ago on June 11, 2019
By Matthew Chapman
At the Fiscal Summit on Tuesday, Rep. Kevin Brady (R-TX) admitted that the GOP tax cut bill does not pay for itself — and that we won’t even know how much the bill cost for up to a decade.
“We will know in year 8, 9 or 10 what revenues it brought in,” said Brady. He continued to fiercely defend the bill, saying, “I don’t think anything could have been worse for the deficit than to stick with the old economy and stick with the tax code that was so outdated,” even after admitting he didn’t really have any basis for claiming it was self-funding.
Brady, the former chairman of the House Ways and Means Committee, was a key architect of the bill, dubbed the “Tax Cuts and Jobs Act,” which was hastily written and passed at the end of 2017 without a single Democratic vote.
During the debate, Republicans like Senate Majority Leader Mitch McConnell (R-KY) insisted the bill would pay for itself by creating enough growth to broaden the tax base.
https://www.rawstory.com/2019/06/watch-author-of-gop-tax-bill-admits-it-doesnt-pay-for-itself-contradicting-key-republican-talking-point/
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