An Open Letter To Joni Ernst On Tax Cuts And Deficits

We spoke at a town hall in Boone this past January after the Republican tax cut passed, and agreed that the proof of its value would be whether it would produce increased revenue – whether it “pays” for itself. The figures are in for fiscal year 2018: the deficit was up by 17 percent to $779 billion over the previous fiscal year. The Congressional Budget Office reports that tax receipts rose by only  $14 billion dollars or just four tenths of a percent. The Committee for a Responsible Federal Budget reports that that is the eighth lowest growth rate in […]