CBO Latest Budget Projections

Floor Speech

BREAK IN TRANSCRIPT

Mr. CARBAJAL. Mr. Speaker, this week, the nonpartisan Congressional Budget Office released its latest budget projections predicting that the Republican tax plan will add a stunning $1.8 trillion to the deficit.

It turns out major tax cuts for the wealthiest Americans do not pay for themselves. With their tax scam cutting revenue and exploding the deficit, Republicans have now set their sights on crippling Social Security retirement and Medicare health insurance programs that millions of Americans rely on.

They shamelessly proposed a balanced budget amendment to distract from the reckless deficit spending, but I am here to say that the public is smarter than they think. They recognize this is just the next step in their plan to cut programs that strengthen retirement security and ensure healthcare access.

I voted against this foolish budgeting proposal, and I urge my colleagues to commit to responsible bipartisan spending reform.

BREAK IN TRANSCRIPT

Source