$30 Billion in Debt is a High Price to Reopen the Government
For Immediate Release
The House and Senate have passed a short-term continuing resolution extending discretionary funding through February 8. The legislation extended funding for the Children’s Health Insurance Program (CHIP) and imposes a moratorium on three taxes that were enacted under the Affordable Care Act to help finance its costs. Maya MacGuineas, president of the Committee for a Responsible Federal Budget, said the following:
While we are relieved policymakers have reopened the government, we are deeply troubled by the decision to use this must-pass legislation as a vehicle to cut taxes and add to the debt. On the heels of a truly unaffordable tax cut, Congress has now chosen to add another $30 billion in debt-financed tax cuts as the price to keep the government’s lights on for a few weeks.
The first rule of holes is when you're in one, stop digging. Instead, Congress has just chosen to dig the fiscal hole even deeper.
For more information contact Matt Bylis, communications assistant, at firstname.lastname@example.org.