I thank the Chairman for holding this markup today and I regret that we were not able to find consensus on the Views & Estimates letter.
Our country’s fiscal outlook is precarious in large part because of the Republican tax law. The law adds at least $2.3 trillion to the nation’s debt while giving massive tax cuts to big corporations. The Republicans claim that the United States will have strong economic growth as a result of their tax law. However, not one main stream economist has made a similar assertion.
Instead, to pay for these corporate handouts, the Republicans intend to cut funding for programs like Medicare, Medicaid, and Social Security, vital benefits that hardworking Americans have paid into and earned. That’s not something I can support.
Therefore, for these reasons, we will submit a separate Views & Estimates letter to the Budget Committee.
