No matter how Republicans try to spin it, the “big, beautiful bill” is just another bloated big-spending grab bag crafted out of desperation rather than deliberation.
Most Republicans, for career-preservation purposes, are muting their criticisms of the package, hoping to instead claim credit for any good parts in it, like the extension of Trump’s signature 2017 tax cuts.
As the nonpartisan Tax Foundation notes, extending existing tax rates is a good thing because of the long-term stability doing so would yield.
However, much of these positives are offset by “political gimmicks and carveouts” the bill is packed with.
“It introduces tax exemptions for overtime pay and tips, as well as a deduction for auto loan interest and a new additional standard deduction available for all seniors, all of which violate basic tax principles of treating taxpayers equally,” the Tax Foundation notes.
The net result of the bill, according to the Committee for a Responsible Federal Budget, is that the bill “would add $3.3 trillion to the debt including interest or $5.2 trillion if its temporary provisions are made permanent. In part because new borrowing is front-loaded and offsets are back-loaded, the bill would add massively to near-term deficits.”
Under current law, the federal government is projected to yield a $1.7 trillion budget deficit in the 2027 fiscal year. But under this plan, according to the Committee, the deficit would instead be $2.3 trillion in the 2027 fiscal year.
And as noted by Chris Edwards of the Cato Institute, “If that is the final package, federal debt held by the public will soar from $30 trillion this year to about $55 trillion by 2034 — $5 trillion more than under the baseline.”
One of the few Republicans speaking up about all of this has been Rep. Thomas Massie of Kentucky, who has drawn considerable ire from the president for daring to be a fiscal conservative.
“Perspective: the part of the Big Beautiful Bill that renews the TCJA tax cuts will benefit each family on average by $1600, but the policies changed or left in place by the BBB will be obligate each family of 4 to $16,000 of interest payments on behalf of the federal government,” Massie recently posted on X.
In response, Trump has called for Massie to be voted out of office. In Trump’s Republican Party, fiscal responsibility is no longer allowed.
Another insightful comment on the bill came from former Rep. Justin Amash of Michigan, who has called the bill the “Big, Bloated Scam,” which seems right.
“It’s the oldest scam in Washington: Add trillions to the debt in new spending and backload the promised cuts to ensure they never happen,” he wrote on X.
This editorial board believes taxpayers should keep more of their money, but also that government should cut its spending accordingly. That’s basic fiscal responsibility. But it seems such a notion is now extinct over in the swamp.
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