Gop Tax Plan May Not Reduce Deficit. That Should Not Wreck Birthday Celebration—Statement

“So those in favor of the Republican tax cut plan and those opposing it can argue all day and night about its effect on total tax revenues, (and they will).
Shouldn’t we stand for some kind of fiscal responsibility and oppose any tax cuts or any bill that doesn’t cut spending first?
So, the top Republican senators and representatives who have historically been opponents of runaway Washington spending could hold a lot of leverage in this tax battle.
A more honest argument from people like Cohn would be to admit that growing or even protecting revenues for the U.S. Treasury are not the priorities in this tax plan.
But if the argument is that the deficit and the debt are bad, then no discussion of tax revenues really matters because D.C. spending is likely going to outpace the revenues anyway.

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