Schrader on Deficit Inflating Tax Bill: “It’s a Sorry Time in America.”
After taking to the House floor week after week this fall to call for a bipartisan process and a deficit neutral bill, Congressman Kurt Schrader (OR-05) issued the following statement on final passage of the GOP tax bill that is slated to add $1.5 trillion to the national deficit.
“It’s a sorry time in America,” said Rep. Schrader. “My Republican colleagues just increased our country’s debt burden by $1.5 trillion dollars – that’s an additional $5,000 debt for every Oregonian. With interest, it will be more. Even the rosiest forecasts that show any economic growth under this bill put the burden at over a trillion dollars. What a Christmas present for our kids and grandkids, already burdened with soaring education and housing costs, to mortgage their future for political gain. We could have done bipartisan tax reform that does not increase our debt and deficit and instead benefits a majority of Americans. We could have worked out a tax plan that helps working families and small businesses rather than the wealthy and big corporations. We could have seized on this opportunity to increase our economic competitiveness overseas rather than burden future generations. I am disappointed at the complete lack of fiscal responsibility toward our country and our children’s future.”
Rep. Schrader voted against every version of the tax bill this month and has repeatedly called for a bill that won’t add to the national debt. Earlier this fall, the Congressman’s Blue Dog Coalition rolled out a series of principles for tax reform, among them are prioritizing the middle class, developing a plan that is revenue neutral, and calling for a bipartisan process with regular order.