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GOP tax bill author admits it doesn’t pay for itself — contradicting key Republican talking point

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At the Fiscal Summit on Tuesday, Rep. Kevin Brady (R-TX) admitted that the GOP tax cut bill does not pay for itself — and that we won’t even know how much the bill cost for up to a decade.

“We will know in year 8, 9 or 10 what revenues it brought in,” said Brady. He continued to fiercely defend the bill, saying, “I don’t think anything could have been worse for the deficit than to stick with the old economy and stick with the tax code that was so outdated,” even after admitting he didn’t really have any basis for claiming it was self-funding.

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Brady, the former chairman of the House Ways and Means Committee, was a key architect of the bill, dubbed the “Tax Cuts and Jobs Act,” which was hastily written and passed at the end of 2017 without a single Democratic vote.

During the debate, Republicans like Senate Majority Leader Mitch McConnell (R-KY) insisted the bill would pay for itself by creating enough growth to broaden the tax base.

Subsequent studies have found that the growth generated by the bill was way too small to pay for itself — and the top 1 percent of income earners got some 83 percent of the direct gain, while workers saw nearly no pay increase at all.

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Republicans initially hoped the tax cuts would allow them to run on the offensive against Democrats in 2018. Instead they quickly retreated from the bill as polling showed much of the public hated the cuts.

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Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news sites, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you.



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‘Go back to Harlem!’: Florida woman has n-word laced meltdown after bumping black woman’s shopping cart

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On Saturday, the Atlanta Black Star reported an incident in Florida, in which a white woman screamed racial slurs at a black woman at a Publix supermarket in Miami after their shopping carts jostled each other.

After the woman allegedly banged into Nicki Johnson's cart, she refused to apologize, saying, "I didn't hit you with my cart, and f**k you,  you f**king n****r."

Johnson whipped out her cell phone camera, and began recording the incident, saying "You, why don't you call me a n****r again?"

"You thinking I'm sorry?" snapped the woman. "Let me tell you something, I don't have to call you anything. Get away from me, I will call security and there are surveillance videos. Get away from me!"

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‘I’m a nurse, what are you?’: Tennessee lawmaker humiliates anti-choice activists in brutal public grilling

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Anti-choice activists in Tennessee were unprepared for the grilling they got from a Democratic Party lawmaker when making the case for a bill that would outlaw abortion before many women knew they were pregnant.

One of the speakers in favor of the fetal heartbeat bill was Baptist Pastor Randy Davis, who was questioned by state Sen. Katrina Robinson (D-Memphis).

"How many women executive pastors do you have in your convention?" Robinson asked Davis. "Or senior pastors."

"None," Davis replied.

"So is it the same ideology that restricts access to women being able to lead a congregation that leads you all to support women not being able to make a medical decision about their body?" Robinson asked.

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2020 Election

Trump is doing everything he did in 2016 to get elected — and it’s failing this time: columnist

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On Saturday, Washington Post columnist Dan Balz wrote that President Donald Trump is relying on the same old bag of tricks that let him lurch blindly to a surprise victory in 2016 — but that that playbook is unlikely to get him elected again, let alone deliver sound domestic or foreign policy.

"After a week in which the threat of recession rocked global financial markets, his trade war with China showed no signs of progress and the government of Israel got into a nasty dispute with two members of Congress, President Trump went to bed Thursday night with other weighty issues on his mind. 'Great news,' he tweeted. 'Tonight we broke the all-time attendance record previously held by Elton John at #SNHUArena [Southern New Hampshire University] in Manchester!'" wrote Balz. "This is the frivolous mind-set of the president of the United States. Trump’s flurry of statements over the past few days have brought into focus once again something fundamental about him: He has little understanding of what it means to govern. He would rather tweet from the bleachers."

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