Politics:Tax Cuts Add $93.5 Billion to Deficit

Republican representative Paul Ryan, the new chairman of the tax-writing Ways and Means Committee, promoted bills that would add nearly $100 billion to the national deficit over the next ten years. Ryan made a name for himself during his time as chairman of the Budget Committee over the last six years by proposing budgets designed to drastically cut domestic spending and balance the budget within the next decade. Now, in his first legislative act in in a new position, Ryan pushed through a package of seven tax cut bills that would add $93.5 billion dollars to the deficit over ten years. Democrats worry that these new measures would boost the deficit and also close loopholes for future tax reform. They also noted that the tax cuts proposed tend to help “the better-off,” which could come at the expense of breaks that would help people who really need them. Democrats did not accept the proposals and the bills did not advance in the Senate, but if the house passes them again this year, they would stand a much better chance in the Senate, now that it is under GOP control.

Contributor: Johanna Hartman

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