Don’t expect the sequel to be any better than the original—“The few get much, and the many get little”

Washington, DC – Today, U.S. Congressman Lloyd Doggett (D-TX), Ranking Member of the Ways & Means Tax Policy Subcommittee, reacted to the Republican proposal for more tax breaks. Rep. Doggett said:

"Don't expect the sequel to be any better than the original. More of a bad idea is still a bad idea. Fiscal irresponsibility is the Republican monster that will not die. The 2.0 tax plan is no summer blockbuster; it is a budget-buster. Republicans offer a sequel featuring more tax breaks for the wealthy few and an endless trail of red ink. Once again, the few get much and the many get little.

"We can already see from the first tax scam that large multinationals and wealthy shareholders have seen windfalls, while wages for working families remain stagnant, and healthcare costs continue to rise under Republican policies.

"The fiscal recklessness of the tax scam and its sequel will put Medicare and Social Security at risk, making it harder for Americans to make ends meet when they retire. It wasn't enough to add over $2 trillion to the debt so that those at the top could get a tax break. Republicans now insist on saddling our kids and grandkids with at least three-quarters of a trillion dollars more in debt, meaning more borrowing from the Chinese and the Saudis. As working families are asked to pay higher health premiums and cope with the future cuts to Social Security and Medicare that Republicans have proposed, all they can think of is further stuffing the pockets of their campaign donors.

"Instead of investing in windfalls for the wealthy, and tax breaks for CEOs, we should invest in working families—in affordable health care, more educational opportunity, rebuilding our infrastructure—investments that grow the economy for everyone."

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