The Trump administration and Republican senators have repeatedly defended their tax plan saying that “dynamic” scoring would show it would pay for itself through economic growth. Surprise. They lied.

The nonpartisan Joint Committee on Taxation said the Republican tax bill would add over $1 TRILLION to the deficit, even after accounting for economic growth.

Many Republican senators have expressed concern over the deficit and even said they would not vote for a bill that increased the deficit. Wonder what they will do now?

Trump Administration:

Trump said his tax plan would lower the deficit.

TRUMP: “This will not increase, this will lower the deficit, because I think we’re going to take off like we have never taken off before.”

Trump claimed economic growth would pay for his tax cuts.

TRUMP: “Your next question is going to be deficits and all, and I fully understand that, and we all understand it, and growth. If we pick up one point on GDP, that’s $2.5 trillion, if you think of it. 2.5. It more than pays for everything, and I think we pick up much more than one point.”

Mulvaney claimed economic growth would help tackle issues with debts and deficits.

Washington Times: “Mr. Mulvaney disagreed that the bill will cause more problems, saying the economic growth will help the issue a great deal. ‘We do need spending restraint. We do need spending reduction, if we can get it,’ he said. ‘This tax policy is a discussion about the debt and the deficit.’”

Gary Cohn said they “very much believe” that their tax cuts will pay for themselves.

Gary Cohn: “We think we can pay for the entire tax cut through growth over the cycle.”

Mnuchin claimed their tax plan would “pay for itself” by boosting economic growth.

Wall Street Journal: “Not only will this tax plan pay for itself, but it will pay down debt,” he said at a conference in Washington.”

Mnuchin denied that proposed tax cuts would increase the national debt.

Associated Press: “Mnuchin also rebuffed projections that the proposed tax cuts would increase the national debt. He said that creating sustained economic growth of 3 percent or higher would generate trillions of dollars in additional revenue to the government. He did not specify over what time frame that would occur. ‘This is all about growth,’ Mnuchin said.”

Senator McConnell:

Senator McConnell suggested it would be relatively easy for the tax plan to pay off its $1.5 trillion price tag through economic growth.

Politico: “For his part, Senate Majority Leader Mitch McConnell (R-Ky.) didn’t want to comment on any specific tax proposals in his Sunday show appearances. But he did maintain that it wouldn’t be much of an issue for a revamped tax system to raise enough revenue to pay off the $1.5 trillion worth of deficit written into the Senate budget. ‘That's a rather conservative estimate of how much growth you will get out of this pro- growth tax reform, which reduces rates for the middle class, which makes it considerably less likely that jobs go overseas by correcting business taxes in such a way that produces more jobs and opportunity,’ McConnell said on CNN’s ‘State of the Union.’”

Senator Corker:

Corker said he wouldn’t vote for a tax bill unless it reduces deficits.

The Hill: “Sen. Bob Corker (R-Tenn.), who is retiring after next year, raised the stakes on what he expects from the nascent GOP tax-reform plan Wednesday, saying he would not vote for a plan that was temporary or raised the deficit. Speaking at the Senate Budget Committee’s markup of the budget, which will unlock the process Republicans want to use to pass the reform, Corker said he would not vote for a final bill unless it ‘reduces deficits and does not add to deficits with reasonable and responsible growth models. And unless we can make it permanent, I don’t have any interest in it.’”

Corker didn’t want tax reform to add to America’s long-term deficit, which he said is the biggest threat to America’s future.

Times Free Press: “But unlike some ardent tax-cut, supply-side economic supporters, Corker said he wants to make sure that any tax reform plan doesn't add to America's long-term deficit, which he said is the biggest threat to America's future. ‘We've got to move ahead and try to deal with the revenue piece,’ said Corker, who recently met with Treasury Secretary Steve Mnuchin about White House plans for tax reform. ‘At the end of the day, our nation is going to end up with trillion dollar-a-year deficits in a just few years and we already have $23 trillion in debt’ … ‘I am not about to vote for a bill that I think is going to increase deficits in our nation,’ Corker said.”

Corker touted himself as “a deficit hawk” and said he won’t vote for any tax bill that adds “one penny to the deficit.”

Fox News: “Corker, who is not seeking re-election, said he doesn't want to support something that ‘damages the nation’ and ‘passes on debt’ on his way out the door. ’I've been a deficit hawk for 11 years. What I don't want to do is lose my integrity and actually help hurt our nation and our children when we have 20 trillion in debt,’ he said.”

Washington Post: “Sen. Bob Corker, R-Tenn., said he is cautious about the growth estimates that leaders have discussed. He said he is eager to begin a serious tax discussion, but he insisted that he will not vote for any bill that adds ‘one penny to the deficit.’ ‘I am not going to be for it, OK?’ Corker said on NBC's ‘Meet the Press.’ ‘I'm sorry. It is the greatest threat to our nation.’”

Senator Collins:

Senator Collins contended that she didn’t want to “blow a hole” in the federal budget deficit through the Republican tax plan.

Bloomberg: “Collins declined to say she’ll oppose a tax bill that adds to the deficit, in contrast to her colleague Senator Bob Corker of Tennessee. But she said she cares about the debt and doesn’t want the tax bill to ‘blow a hole’ in the deficit. She argued that ‘certain tax cuts done right will increase economic growth’ and produce revenue.

Senator Hatch:

Senator Hatch claimed the GOP’s tax plan was not fiscally irresponsible as cuts were “fully or mostly paid for.”

Senator Hatch: “Next, they’ll say the framework is fiscally irresponsible. The truth: The tax reductions in the framework are fully or mostly paid for with both economic growth and elimination of special interest loopholes. Moreover, reducing the tax burden on both large and small businesses will grow our economy, increase wages, and create and keep more jobs in the United States. Combined with bigger paychecks for middle-class families, the framework’s reforms are the very definition of a wise investment.” 

Senator Flake:

Senator Flake said he was concerned that the current tax reform proposal could “grow the already staggering national debt by opting for short-term fixes.”

The Hill: “Sen. Jeff Flake (Ariz.) — ‘I remain concerned over how the current tax reform proposals will grow the already staggering national debt by opting for short-term fixes while ignoring long-term problems for taxpayers and the economy,’ Flake said in a statement. ‘We must achieve real tax reform crafted in a fiscally responsible manner. I look forward to working with my colleagues during a full and robust debate on the Senate floor to deliver on that goal.’ Flake is retiring after his term.”

Senator McCain:

Senator McCain said “I’m always worried about the deficit.”

Politico: “When asked about the cost of extending expiring provisions, McCain stressed: ‘I’m always worried about the deficit.’”

Senator Moran:

Senator Moran said that “we don’t want to increase the debt and deficit as a result of tax cuts.”

Politico: “He has also raised concerns about potential red ink of any tax overhaul. ‘The easiest way to say this is, I am for some tax bill. Can we find taxes to cut that grow the economy?’ Moran said at a town hall in Clay Center, according to the Topeka Capitol Journal. ‘We don’t want to increase the debt and deficit as a result of tax cuts. My goal is to find out which taxes you cut can actually help create more jobs, better jobs, higher-paying jobs.’”

Senator Jonson:

Senator Johnson said “I care deeply about this deficit.”

CNBC: “Johnson said he’s been working for months behind the scenes to make changes, but he added that he’s not going to let his ‘version of perfect’ sink tax reform. ‘I want to get this thing fixed, and vote for pro-growth tax reform that makes all American businesses competitive globally,’ he said. ‘I care deeply about this country, I care deeply about this deficit.’”

Senator Portman:

Senator Portman said the Republican tax plan would “result in deficit reduction” and “would actually decrease the debt.”

Washington Examiner: “Ohio Sen. Rob Portman believes the tax reform proposal set to be unveiled this week will actually reduce the federal deficit because it’s going to produce more revenue for the government. Portman told NBC’s ‘Meet The Press’ host Chuck Todd that he doesn’t see tax reform as just a tax cut, which will reduce the amount of money coming into the federal coffers. Instead, over a long period of time, it will mean more investment in the United States and more jobs in the country. ‘I'm real excited about this tax reform because I think it will generate a lot more revenue. I think it will over the 10-year period, Chuck, you're talking about, result in deficit reduction,’ he said.”

PORTMAN: “I think it will actually decrease the debt, and by the way, it’s not the only answer. Obviously we have to restrain spending, but if you don’t grow the economy you will not be able to get out from under this.”

Senator Young:

Senator Young said he didn’t want to “blow a hole in the budget” for tax cuts.

Indianapolis Business Journal: “U.S. Sen. Todd Young says he is eager to accomplish tax reform—but he’s not willing to ‘blow a hole in the budget’ in the process.”