News · Press Release

David Schweikert-Backed Tax Scam 2.0 Pushes “Deep Tax Cuts for Companies and the Affluent” [Associated Press]

Tax Scam would blow up federal deficit by more than $1 trillion

After building a career lecturing the American people about reducing the deficit, Schweikert, who sits on the House Ways & Means Committee, and House Republicans are now attempting to increase the deficit in order to deliver a massive hand-out to the well-off and well-connected.

The AP reports:

“GOP lawmakers are pushing deep tax cuts for companies and the affluent[…], while President Joe Biden and fellow Democrats seek more targeted tax cuts to achieve social goals such as reducing child poverty and shifting to renewable energy that can help the economy in the long run.”
If the Tax Scam were made permanent, the deficit would blow up by more than $1 trillion, “eliminating almost all of the savings from spending cuts that were part of the debt limit agreement.”

Meanwhile, Democrats continue to push for programs that would actually help working families, like the Child Tax Credit – which cut the child poverty rate by 46%.

DCCC spokesperson Jacob Haythorn: 
“David Schweikert – who has defined his political career as a fiscal hawk – voted to juice the deficit by $1 trillion while benefiting the wealthy and well-connected. Schweikert’s chronic hypocrisy is on full display, and his unwillingness to stand for what he preaches is just another reason why he will be voted out of office in 2024.”

 

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