Peterson Foundation Statement on Passage of Senate Tax Bill
"The Senate has squandered an opportunity to pass fiscally responsible tax reform," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
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"The Senate has squandered an opportunity to pass fiscally responsible tax reform," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
The report focuses on the fiscal conditions in six heavily populated states which together account for a third of the nation's population and almost 40 cents of every dollar in spending by state and local governments.
https://www.pgpf.org/analysis/state-budget-crisis-task-force
"Passing a bill to our kids is not the right way to pass a bill. This legislation is an example of fiscal irresponsibility," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2017/11/peterson-foundation-statement-on-house-tax-bill
"This report confirms that tax cuts don’t pay for themselves," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
The total cost of the Tax Cuts and Job Act is estimated to be $1.7 trillion between 2018 and 2027.
https://www.pgpf.org/blog/2017/11/what-the-interest-on-deficit-funded-tax-legislation-would-cost
The legislation is fiscally irresponsible and will add significantly to America's national debt.
https://www.pgpf.org/analysis/congress-passes-costly-and-unfunded-tax-legislation
According to the Joint Committee on Taxation, the provisions in this agreement will add $857.8 billion to the deficit by 2020.
https://www.pgpf.org/analysis/2010/12/compromise-tax-framework-agreement
Even in a highly polarized political landscape, there is broad congressional support for reforming the U.S. tax code.
https://www.pgpf.org/what-we-are-doing/fiscal-summit/2017-fiscal-summit/the-tax-reform-opportunity
U.S. Treasury Secretary Steven T. Mnuchin told Harwood that the president is prioritizing comprehensive tax reform as a key part of boosting growth.
https://www.pgpf.org/what-we-are-doing/fiscal-summit/2017-fiscal-summit/steven-mnuchin
"The potential addition of a revenue trigger is the latest in a list of fiscal gimmicks that are being included in this bill," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2017/11/peterson-foundation-statement-on-senate-tax-bill-0