Heitkamp: The Truth about the Senate Republican Tax Reform Bill

FACT: The Senate Republican tax reform bill will explode our country’s debt, adding nearly $1.5 trillion on the nation’s credit card – and that’s in the best-case scenario.

WHAT THIS MEANS: The bill will put our kids on the hook to pay for its exorbitant cost without substantially growing the economy. We need to have an honest conversation about what American families are getting for that $1.5 trillion, because that’s a really big bill to put on our kids’ shoulders. And it will have a huge impact on their futures. [CBO, 12/2/17]

With $1.5 trillion, there are so many better, smarter ways the Senate could invest that money that would actually support working families and stand up for our kids’ futures. With this same amount of money, the Senate could give every taxpayer making less than $200,000 per year a $9,000 tax cut, rather than disproportionately helping the wealthy as this bill does. Or the Senate could invest that money, in priorities such as finding a cure for Alzheimer’s and cancer, rebuilding our country’s degraded infrastructure, expanding opioid abuse prevention and treatment programs, or fixing the country’s pension crisis. All of these priorities will be crowded out by the Senate’s deficit financed tax bill.

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