Reconsider reckless debt-inflating tax bill harming future prosperity
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The recently proposed reconciliation bill that aims to extend tax cuts and enact domestic policy reforms raises significant fiscal concerns. According to the nonpartisan Congressional Budget Office, the Senate version would add at least $3.3 trillion to the national debt over the next decade, with the potential for an additional $700 billion in interest costs, further ballooning the debt. This reckless increase in borrowing will burden future generations and hinder our ability to invest in crucial areas like infrastructure, education, and research that drive long-term economic growth. While proponents argue the tax cuts will spur economic expansion, history has shown that tax cuts largely benefiting the wealthy do little to boost overall prosperity or pay for themselves through growth. Instead, they exacerbate income inequality and deprive the government of revenue needed for vital public services and investments. The proposed cuts to Medicaid, food assistance, and other safety net programs to partially offset the costs are draconian and will leave millions more Americans vulnerable, undermining economic mobility. I urge reconsideration of an approach that willinflatethe debt to unsustainable levels while redistributing wealth upwards. Fiscal responsibility demands a balanced approach that raises revenue, controls costs, enforces a fairer tax code, and preserves a strong social safety net. Shortsighted partisan policies that mortgage our future for ephemeral political gains must be avoided.