According to the Congressional Budget Office, the GOP’s new tax plan will raise the national debt by $1.7 trillion over the next decade. According to Fox News’ Shep Smith, that’s laughable.
“Apparently when you’re out of power, you talk about the deficit because the other party is doing it,” Smith said. “It works for both parties. The Republicans have been screaming about deficits for eight years and now they’re trying to add to the deficit. It’s comical.”
Fox Business reporter Gerri Willis agreed, adding that that debt increase would constitute 97 percent of the gross domestic product.
One of the changes the bill would make, Smith explained, would be to end student loan interest deductions.
“What else are gonna do to these millennials?” Smith asked.
“$1.45 trillion dollars in student loan debt, now you can’t deduct the interest, you can’t deduct tuition expense,” Willis responded.
“Seriously? We’re putting all of this on young people who are trying to get educated?”
Watch Smith and Willis discuss the many ways the GOP’s new tax bill will be harmful below, via Fox News.