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“Today, the House passed a tax bill that fails to reform-- instead, this tax plan pushes us further in the wrong direction. This final compromise adds even more to the deficit than either previous iterations of the bill, hiding billions of dollars in costs using budget gimmicks. Ultimately, if all of the proposed tax cuts are considered permanent, this bill could add up to $2.2 trillion to the deficit over ten years.
“Worse still, this explosion in our national debt comes with few benefits. This tax bill continues to strive for economic growth at any cost, failing to answer some of the hard questions about what type of damage ceaseless growth can inflict on us, environmentally and ecologically, for generations to come.
“It leaves open gaping loopholes, rewards and incentivizes corporate tax dodging, and includes destructive and unnecessary provisions like opening the Arctic National Wildlife Refuge to oil drilling all in the single-minded pursuit of a slight bump to economic growth. This isn’t a good deal for the American people, and it will force future generations to pay the heavy price for this reckless and retrograde legislation.”
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