The Conference Committee Needs To Slow Down

Statement From TCSThe Conference Committee Needs To Slow DownIt is not too late for lawmakers to step back from the edge.

Budget & Tax,  | Quick Take
Dec 14, 2017  | 2 min read | Print Article

Our president, Ms. Ryan Alexander has the following statement about the undue haste with which the tax bill is progressing:

“The conference committee on the Tax Cuts And Jobs Act has reportedly reached an agreement, speeding up the progress of the largest tax bill in a generation into law.

But it is not too late for lawmakers to step back from the edge and go back to the drawing board. Congress is letting false political deadlines push the country even deeper into debt.

This bill will affect every single taxpayer in this country, every sector of our economy. That alone makes it a bill that should have more than two months from early draft to signature. Meaningful tax reform needs broad support, or at least buy-in. And as we learned from the Affordable Care Act, using reconciliation to pass a bill that affects everyone, is bound to be challenged at every turn. That serves no one well.

We need real tax reform – that rare thing everyone agrees on in a polarizing and challenging time. This chance may not come again for a long time – we would urge lawmakers to take a breath, step back, and not rush this bill.

This is not tax reform, but a gimmick filled, deficit financed tax cut. No credible analysis supports the theories that this bill will pay for itself. Budget tricks from opening up parts of Alaska for drilling to allowing tax provisions to expire to mask cost are just some of the elements that make this package irresponsible. This bill will simply blow another hole in the budget to the tune of more than $1 trillion at a time when our $20 trillion national debt already exceeds 100 percent of our GDP.

Moving fast and breaking things is great for a start-up. It is not good for a once-in-a-generation opportunity to make real change, and a major tax reform bill that reaches down to every citizen’s wallet.

Slow down and get it right.”

— Ryan Alexander, president
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