Toxic Trump-GOP Budget and ‘Tax Plan’ Would Devastate Working Families, Threaten The Economy

It’s becoming crystal clear that Trump’s new budget and tax breaks for the rich would sacrifice the economy on the altar of more tax cuts for millionaires and billionaires. We know three things about the GOP budget and tax plan:

They include horrific cuts to programs working Americans rely on:

New York Magazine: “Included cuts to federal agencies and anti-poverty programs so draconian, multiple Republicans declared them dead on arrival.”


CBS News: “All but the wealthiest Americans will no longer be able to deduct the interest paid on a home loan.”


Politico: “Big gains in productivity can result from government investments in research, technology and education. The Trump budget moves in the opposite direction, slashing spending almost everywhere but on the military.”


They will break Trump’s promises to boost the economy and make the tax system more fair…

New York Magazine: Trump’s budget “pretended that Trump’s infrastructure pledge did not exist, Social Security disability benefits aren’t really Social Security, and the estate tax will still provide the government revenue even after it’s abolished.”


William Hoagland, Former GOP Budget Aide: “Increasing productivity depends at least in my mind on a number of those programs in non-defense including education, science and technology that [the Trump budget] would cut.”


Joseph Rosenberg, Tax Policy Center: The Trump plan “really does not address the fundamental problems of the corporate tax system and in some ways makes it much worse.”


And there’s a growing consensus that the budget and tax plans are completely divorced from reality.

New York Magazine: “Baselessly assumed that Trump’s enormous tax cut will pay for itself, by generating $2 trillion in new revenue through higher economic growth.”


MSNBC: “Trump’s boasts on tax reform don’t make any sense.”


Politico: “The president is counting on tax cuts to help deliver a sustained boost in economic growth, but even conservative economists doubt the approach can counter long-term trends.”

John Boehner: “The border adjustment tax is deader than a doornail. Tax reform is just a bunch of happy talk.”