News · Press Release

SHOT/CHASER: Chip Roy Falsely Proclaims the GOP Tax Scam “Is Paying for Itself”

Spoiler: it’s not

 

SHOT:

This morning, Congressman Chip Roy defended the GOP tax law that gave billions to big corporations and the wealthy while raising taxes on the middle-class, increasing healthcare premiums, and costing middle-class Texas homeowners thousands of dollars:

“So, CBO did a study last spring which showed that the tax cuts that were put in place largely had already paid for themselves. We’re heading right down the path where the economic growth generated by putting more money in the pockets of the American people, is paying for itself.”

 

CHASER:

The New York Times after talking to experts last month: “It’s official: the Trump tax cuts didn’t pay for themselves in year one.”

 

LIME:

Turns out, the tax law is actually headed for the exact opposite of paying for itself: “In December 2017, as Republicans sped the tax cuts through Congress, the Tax Foundation released a projection that the cuts would add about $450 billion to federal deficits over 10 years, after accounting for the additional economic growth it would spur… It now predicts deficits will increase by $900 billion — double its original forecast.”

 

“After barely a month in Congress, Chip Roy has already gone Washington. Instead of coming clean with the hardworking Texans left behind by the GOP tax scam, Congressman Roy has taken to reciting widely debunked falsehoods to protect his special interest donors. The truth is, the tax scam is just a giant giveaway to the wealthy and massive corporations paid for by middle-class families.” — DCCC Spokesperson Brooke Goren.





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