The architect behind the Trump tax cuts for the rich, Rep. Kevin Brady (R-TX) admitted that the tax cuts aren’t going to pay for themselves.
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.”
“We will know in year 8, 9 or 10 what revenues it brought in to the government over time. So it’s way too early to tell,” said Brady at the Peterson Foundation’s annual Fiscal Summit in Washington D.C.
The deficit has exploded at a time when it should be shrinking because tax cuts do not pay for themselves. The tax cut was a giveaway for the wealthy and corporations. Republicans will now wring their hands in worry and concern over the deficit, which they will use as a pretext for their plan to cut social programs, Medicare, Medicaid, and harm the poor.
The American people didn’t want these tax cuts. The bill was drafted with special interest groups behind closed doors. The tax cuts are so unpopular that Republicans won’t run on them. Republicans lied, but rich people and corporations got their tax cut, and the first order of business for the next Democratic president and Congress will be to kill the Trump tax cut once and for all.
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Mr. Easley is the founder/managing editor and Senior White House and Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association