Anna Eshoo: “I'm deeply disappointed in the recently negotiated tax deal by the White House. While one can find items that are…”

“I'm deeply disappointed in the recently negotiated tax deal by the White House. While one can find items that are politically and practically attractive, in its totality, it borrows just shy of $1 trillion to pay for, amongst other items, expiring tax breaks for the top 2 percent of our country. My fear is that the 2001- 2003 Bush tax cuts will become permanent, and our fiscal future will dim as America struggles with the largest transfer of wealth and debt creation in its history. We should, instead, be investing in capital formation, technological innovation, job creation, and education. These are the real building blocks for a strong future for all Americans. I'm also deeply, deeply concerned about borrowing from the general fund to cover Social Security payroll taxes. This is the first time in the history of Social Security that the firewall between the general fund and Social Security is being taken down. This is dangerous. It's a bad precedent and one I believe we will all regret.”