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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could have been worse for the deficit than to stick with the old economy and stick with the tax code that was so outdated,” even after admitting he didn’t really have any basis for claiming it was self-funding.

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.

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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.

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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Trump considering withdrawal from 68-year-old treaty with Japan: report

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President Donald Trump has been privately talking about withdrawing from the postwar defense treaty with Japan, according to three sources familiar with the matter.

Trump is telling confidants the treaty is unfair to the U.S. because it promises to help if Japan was ever attacked, but doesn't require Japan to come to America's defense, the sources told Bloomberg.

So far, the president hasn't taken any step toward pulling out of the treaty, which was signed in 1951, and administration officials insist that move would be highly unlikely.

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2020 Election

Rep. Ted Lieu: Impeachment is coming — and so is a Democratic president

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Donald Trump recently called “impeachment” a “dirty, filthy, disgusting word,” but his continued stonewalling of legitimate congressional oversight requests are moving more and more House Democrats to embrace that “filthy” concept. That was the very point made by Rep. Ted Lieu of California, a progressive Democrat who sits on the House Judiciary Committee during our recent conversation on “Salon Talks.” That committee would be the starting point for an actual impeachment inquiry of the president.

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2020 Election

New report targets 15 House Democrats who ‘deserve’ progressive primary challengers

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As progressive candidates continue to announce their intentions to oust corporate Democrats, a new report names 15 House Democrats to unseat in primary challenges.

Published Monday by the left-leaning group RootsAction, the new report is entitled Bad Blues: Some of the House Democrats Who Deserve to Be 'Primaried.'

The list, the report notes, "is by no means exhaustive—only illustrative."

"There may well be a Democratic member of Congress near you not included here who serves corporate interests more than majority interests, or has simply grown tired or complacent in the never-ending struggles for social, racial, and economic justice as well as environmental sanity and peace," the report notes. "Perhaps you live in a district where voters are ready to be inspired by a progressive primary candidate because the Democrat in Congress is not up to the job."

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