Gwen Graham: “The tax cuts authorized in this resolution total $1.3 trillion over the next 10 years. Over the same 10 years, the…”

“The tax cuts authorized in this resolution total $1.3 trillion over the next 10 years. Over the same 10 years, the Federal budget will run deficits totaling $1.4 trillion. The priority of those supporting this resolution is crystal clear: tax cuts today, in exchange for an even higher mountain of debt that will be paid by our children and grandchildren. So strong is the lust for tax cuts, the conference committee on the budget has gone so far as to develop an unprecedented gimmick by which the Senate and the House of Representatives will consider a portion of these tax cuts later in the year. Under normal procedures, a conference report is to be a consolidated single resolution of all of its issues. We are presented with what is called a conference report, which has a dramatic difference between tax cut allowances in the House--$550 billion, over 10 years--and tax cuts allowed in the Senate--$350 billion. The goal of the majority is to give the appearance of limiting tax cuts to the Senate-passed limit of $350 billion, while paving the way for fast-track tax cuts of $550 billion. During the debate on the Senate's budget resolution a couple of weeks ago, I voted against any tax cut in the budget. Why? Because, in my judgment, they do not reflect our Nation's priorities. This budget should seek to reduce the national debt.”