After exploding the debt to slash taxes for the wealthy and corporations, Congressman Poliquin and House Republicans are at it again
Westbrook, MAINE - In case you missed it, Bruce Poliquin and House Republicans passed H.R. 6760 this past Friday, which makes permanent the tax breaks they previously passed that already overwhelmingly benefited the wealthiest Americans and corporations.
The Washington Post previously reported:
“A second round of Republican tax cuts would add an additional $3.2 trillion to the federal deficit over a decade, according to a new report released by a centrist think-tank.
“The package was taken up by a House committee on Thursday and is expected to head to a vote on the floor later this month.
“The GOP’s “tax reform 2.0” would make permanent many of the individual and estate tax provisions in the tax law Republicans passed last fall, which the Congressional Budget Office said would already add about $1.9 trillion to the deficit, factoring for interest costs.”
Poliquin and Republicans passed the first GOP tax bill despite mountains of evidence that it would do little, if anything, to grow the economy. In fact, of 42 top economists, only one believed that the GOP tax bill would help the economy. Even the person responsible for helping President Reagan devise his tax cuts concluded that they did little to grow the economy.
We also know that Bruce Poliquin is more than willing to sacrifice the well-being of Mainers to attack the critical programs they rely on, and Republicans have already made it clear that they plan to reign in the debt they created by cutting Medicare and Social Security, not repealing their tax cuts for the wealthy. Last year he supported a repeal of the Affordable Care Act that would have gutted Medicaid, saying, “Medicaid is an open-ended program with no budget, which continues to grow beyond the taxpayers’ ability to pay for the healthcare benefits. It’s simply not sustainable.”