[Congressional Record Volume 163, Number 186 (Tuesday, November 14, 2017)]
[House]
[Page H9189]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                TAX CUTS HAVE NEVER PAID FOR THEMSELVES

  (Mr. HIGGINS of New York asked and was given permission to address 
the House for 1 minute.)
  Mr. HIGGINS of New York. Mr. Speaker, the White House Council of 
Economic Advisers issued a report recently asserting that, by cutting 
the corporate rate from 35 to 20 percent, every American household will 
see their income increase by $4,000 to $9,000 next year and those years 
after.
  The U.S. Treasury Secretary also said that these tax cuts would pay 
for themselves and produce $2 trillion in growth over the next decade. 
In fact, Mr. Speaker, tax cuts have never paid for themselves--not once 
or ever--in human history.
  The White House has a problem in that nobody believes them, not the 
Congressional Budget Office, not the Tax Policy Center, not the 
University of Pennsylvania Wharton Business School, and not even 
Goldman Sachs, from which both the Treasury Secretary and the National 
Economic Adviser came to the White House.
  In fact, each of these nonpartisan institutions that studies and 
reports on tax and economic policy have stated explicitly that these 
corporate tax cuts will have near zero impact on future economic growth 
and add at least $1.5 trillion in new deficit over the next decade.
  Once again, Mr. Speaker, this is fraud being perpetrated against 
middle America.

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