WASHINGTON, DC - Today, Ways & Means Committee Ranking Member Richard Neal (D-MA) released the following statement on the Congressional Budget Office’s (CBO) report on the long-term budget outlook:
“Over and over again, Democrats insisted to Republicans that tax cuts for big corporations and the wealthiest Americans do not pay for themselves. Now, in the CBO’s new report, we see the long-term consequences of the GOP’s fiscally irresponsible tax law: racking up historic debt and laying the groundwork for economic crisis. As the nation’s debt balloons and more and more resources have to be diverted to make interest payments, Republicans will block investments in our future and demand critical programs like Social Security, Medicare, and Medicaid go on the chopping block. With their deficit-busting tax bill, Republicans gave away the store right as the nation’s obligations are coming due - benefits for which Americans worked hard their entire lives. This sort of legislative malpractice is a disservice to the American people and sets our nation up for an unnecessarily perilous fiscal future."
