WASHINGTON, D.C. – U.S. Senator Martin Heinrich (D-N.M.), Ranking Member of the Joint Economic Committee, issued the following statement after passage of the Senate Republican tax bill:

 

“Today, Senate Republicans passed their tax bill that harms working families, will blow a huge hole in the deficit, and I fear will lead to drastic cuts to vital programs in the years ahead. Yet again, our children and our communities will end up paying the price for irresponsible and immoral Republican tax giveaways. Under the Senate bill, nearly 28 million working families will face a tax increase by 2027.

 

“This bill spends money we don’t have on tax breaks the rich don’t need. The legislation adds $1.4 trillion to the national debt, an average of $140 billion each year in increased deficits, further damaging our long-term fiscal situation. Blowing a hole in the deficit to give tax breaks to the wealthy and special interests is the standard Republican playbook.

 

“Meaningful tax reform is a big, complicated, and complex undertaking. It doesn’t happen behind closed doors, and doesn’t happen with one party calling all the shots. We could craft a better bill that would lower taxes in a way that doesn’t add to the deficit. I urge my colleagues—let’s work together to find real solutions to health care, to tax reform, and to all of our nation’s challenges.” F

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For more information, please contact Latoya Veal at Latoya_Veal@jec.senate.gov or 202-224-0379.