Schumer Statement on Commerce Department’s Confirmation that GOP Tax Law Isn’t Delivering Promised Economic Growth

April 27, 2018

Washington, D.C. – U.S. Senator Chuck Schumer today released the following statement regarding the Commerce Department’s confirmation that the GOP tax law is not delivering the economic growth Republicans promised it would:

“With President Trump’s own Commerce Department now confirming the GOP tax law won’t yield 4% economic growth, it’s clear as day the Republican promise that the law would pay for itself was a ruse –  it was simply a tax scam for the rich. Republicans will carry the burden of having blown up the deficit for years to come and have lost any credibility they had left when it comes to fiscal stewardship.

“And as the latest Republican Study Committee’s budget proposal shows, Republicans are already using the deficit as an excuse to sharpen their knives and cut investments to middle-class programs like Medicare and Social Security as well as childcare, education, and more.”