Concurrent Resolution on the Budget for Fiscal Year 2025

Floor Speech

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Mr. PETERS. Mr. Speaker, there are a lot of difficult things about this, but one thing I want to say is that the Republicans are actually trying to change the rules of the game to say that this tax cut doesn't cost any money. The Senate is ignoring the rules we have observed for decades, ruling out the Parliamentarian, just declaring that extending these tax cuts doesn't cost any money, and that is a falsehood. We are just changing our accounting rules to do this.

The other fault with this is the chairman, Mr. Arrington, rightly pointed out we are borrowing $2 trillion every year, but this does nothing about that. All this does is take money from important programs to fund the extension of tax cuts, many of which are for the wealthy. Some may be for the nonwealthy, but much of it is for the wealthy. It is the wrong thing to do.

Every independent analysis says this will not lower the budget deficit but will increase it. Mr. Speaker, if you don't believe me, look at when we vote for the debt ceiling increase; $5 trillion to $18 trillion. What are we going to vote for? This is the wrong direction.

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