Golden, Blue Dogs push House GOP leaders to prioritize fiscal sustainability, not tax cuts for the wealthy

WASHINGTON — With many provisions of the Tax Cuts and Jobs Act (TCJA) set to expire this year, Congressman Jared Golden (ME-02) and the House Blue Dog Coalition are urging House GOP leaders to reject deficit funding, prioritize targeted tax benefits to working- and middle-class families, and let costly tax cuts for the wealthy expire. 

In a letter to House Speaker Mike Johnson and House Ways and Means Chairman Jason Smith, the Blue Dogs advocated against a blanket extension of TCJA and pushed for robust, bipartisan, and common-sense negotiations ahead of the budget reconciliation process.

“We spent more on interest payments than on education, veterans, and transportation combined,” the Blue Dogs wrote. “Extending the TCJA would add over $600 billion in additional debt-servicing costs over the next decade, adding to the already unsustainable fiscal situation.”

Recently, the Congressional Budget Office found that fully extending the TCJA would add $4.6 trillion to the federal deficit over ten years, after accounting for interest. The Treasury Department also found that a blanket extension would disproportionately benefit the top 0.1 percent of earners (those earning more than $3.5 million), saving them over $300,000 in tax bills every year, compared to the benefit for the average household of $2,000.

“Instead of adding to the national debt and exacerbating Congress’ unsustainable budgeting issues while mostly helping the wealthiest people in the country, we believe that the expiration of the TCJA presents an opportunity to pursue a bipartisan, budget-neutral solution that supports everyday people,” the Blue Dogs continued. “This can be achieved by a targeted extension of the TCJA tax benefits for the working and middle class—Americans who need them the most. These tax cuts should be offset by a mix of spending cuts and increased revenue to make sure everyone pays their fair share.”

You can read the full text of the letter HERE.

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ABOUT THE BLUE DOG COALITION: The Blue Dog Coalition is an official caucus in the U.S. House of Representatives composed of fiscally responsible Democrats, who are leading the way to find common-sense solutions. They are pragmatic Democrats, appealing to mainstream values of the American public. The Blue Dogs are dedicated to pursuing fiscally responsible policies, ensuring a strong national defense for our country, and transcending party lines to get things done for the American people.