Madam President, families lose, and billionaires win. That is the Republican plan. It is a plan that slashes $1.5 to $2 trillion from programs that families depend on. And why? To fund tax cuts for the very richest Americans. But that is not all the bad news because there are additional tax cuts for the best and richest in the country--the richest Americans-- and those are unpaid for, and that means debt. How much more debt does this bill create? The current estimate--and the estimates keep going up--is $5.3 trillion of unpaid-for tax cuts over the next 10 years--$5.3 trillion--trillion with a ``t''--over the next 10 years. But that is not all. Their plan provides for $37 trillion--at least $37 trillion--in additional debt over the next 30 years. This is a phenomenal, phenomenal number. And, third, they say: We will tell the American people it adds no new debt; passing this bill adds no new debt. That is quite a set of plans: slash programs for regular Americans, enrich the richest Americans, run up an additional $37 trillion in debt, and then lie to the American people and say it doesn't cost a thing. It has become clear, over the last 2 days, about how Republicans are going to justify this. They say they are going to use section 312-- section 312--of the law. Section 312, they say, says that the cost of a program or the impact of a revenue cut through a tax giveaway to the wealthy only costs what the budget chair says it costs. Just take the chair's word for it.…
On the recordApril 3, 2025
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