Senate GOP Attempts to Obscure True Cost of $5T Tax Bill, Clearing the Way  for Massive Cuts to Vital Programs to Pay for Billionaire Tax Cuts

Today, Senate Republicans released their budget resolution to serve as a framework to their reconciliation bill—a wide-ranging proposal that would make massive cuts to Medicaid, nutrition for children, and other vital programs while using procedural tricks to hide the true cost of their multi-trillion-dollar tax cuts for billionaires. In an unprecedented move,  the legislation will use an accounting trick that treats extending tax cuts that are set to expire as having no cost despite their near $5 trillion price tag.

“Let’s be clear: Trump and his allies in Congress are cooking the books in broad daylight. They don’t want Americans to know that their scam of a tax bill, which gives trillions in giveaways to their billionaire and corporate donors, costs over $5 trillion,” said David Kass, ATF Executive Director. “No amount of magic math can change the fact that this tax plan has real costs that will be paid for by workers and families. It’s insulting to the intelligence of Americans to pretend otherwise. Massive cuts to vital government programs like Medicaid and SNAP will raise health care and food prices for millions of families while billionaires pocket the money and the national debt explodes. Working and middle-class families and future generations should not be forced to pay higher prices just to further enrich billionaire elites and the politicians they bought.”