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      vern buchanan

      Rep. Vern Buchanan (R-Fla.) speaks with Rep. Jason Smith (R-Mo.) during a hearing

      GOP Plans to Unveil Deficit-Exploding Tax Cuts for the Rich Two Weeks After Debt Limit X-Date

      "This hostage crisis has never been about deficits for the GOP," said Rep. Ilhan Omar. "It has always been about wealth transfer—taking away food and healthcare from the poor and middle class to give away $3 trillion more in tax cuts to their rich friends."

      Jake Johnson
      May 24, 2023

      With the U.S. careening toward a default crisis that they manufactured, House Republicans are reportedly crafting a major tax cut package that would overwhelmingly benefit the rich and corporations while blowing a multitrillion-dollar hole in the federal deficit.

      The fresh push for tax cuts, according to Rep. Ilhan Omar (D-Minn.), further shows that "this hostage crisis has never been about deficits for the GOP."

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      Rep. Michael McCaul

      'Absolute Hypocrisy': GOP Unveils Bill to Make Trump Tax Cuts Permanent While Howling About Debt

      One economist noted that the measure is backed by the "same members who are pushing us to a debt limit crisis on claims they care about the deficit."

      Jake Johnson
      Feb 16, 2023
      A group of more than 70 House Republicans introduced legislation this week that would make elements of the 2017 Trump tax cuts permanent, delivering a huge windfall to the rich and choking off more federal revenue at a time when Republican fearmongering over the national debt is at a fever pitch.

      Led by Reps. Vern Buchanan (R-Fla.) and Michael McCaul (R-Texas), the TCJA Permanency Act, would cement into federal law tax cuts for individuals that are set to expire at the end of 2025.

      The original 2017 tax law, the Tax Cuts and Jobs Act, made most of its corporate tax provisions permanent. In a statement Wednesday, the Biden White House said Trump and congressional Republicans "deliberately sunset portions of their tax giveaway" in order to "conceal how much their plan added to the debt."

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