Congress is considering piling on even more to the growing national debt. Tell your representatives to stop the madness.
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The National debt is already higher than it has been since just after World War II and is quickly rising towards levels never seen before.
The House of Representatives is considering more tax cuts, including permanently extending many of last year’s tax cuts, which are currently set to expire in 2025, without paying for the cost. That would not only explode the debt, but also likely slow the growth of the economy in the long run.
The new package is estimated to cost $657 billion over the next decade, and the long-term cost will be much higher. Our partners at the Committee for a Responsible Federal Budget estimate the legislation would cost $4 trillion over the next 20 years, or $5 trillion with interest. Any new tax bill should focus on correcting the previous budget-busting one, not making things even worse.