Tax bill shows House GOP isn't serious about federal deficit
House Republicans’ tax bill is expected to add trillions to the federal deficit, and that's bad news for any of them who’d like to stay in office after the 2026 midterms.
The Committee for a Responsible Federal Budget, a nonpartisan think tank focused on fiscal issues, estimates the taxes bill would likely add nearly $3.3 trillion to the national deficit over the next decade, after factoring in interest, new revenue, and cuts to federal spending. Worse, if all of the tax bill’s policies are permanently extended, the bill could add $5.2 trillion to the deficit, according to the CRFB.
The legislation is bound to be rewritten, but it’s unlikely to end up being anything other than a massive giveaway to the nation’s wealthiest, offering a measly amount of savings to everyday Americans. It is also expected to increase costs for some American households in other ways, such as by leading 13.7 million Americans to lose their health insurance.
But good news! House Speaker Mike Johnson and his gang of Republicans do have a plan to generate some revenue: They have proposed adding a 5% tax on remittances, the money that immigrants in the U.S. send to their families back home. The egregious cruelty is very on-brand for today’s Grand Old Party.
https://www.dailykos.com/stories/2025/5/16/2322526/-Tax-bill-shows-House-GOP-isn-t-serious-about-federal-deficit
Certified dumbasses.