Happening right now: tax reform is moving forward!

Oct 27th, 2017

[Send a letter to your representatives right now urging them to protect working and middle class Americans and small businesses that depend on tax policies such as the Like Kind Exchange (Section 1031) provision and interest deduction for small business and real estate owners.]

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House Republicans on Thursday passed the Senate's 2018 budget resolution, allowing them to add $1,500,000,000 to the deficit through budget "reconciliation" [sic]. 20 republicans opposed the resolution—even more than opposed the original House version earlier in the month. This opposition came from a group of fiscal conservatives including Justin Amash and others from the House Liberty Caucus, as well as a group of more centrist republicans. Two more GOP votes against the resolution would have failed it.

The House Liberty Caucus released the following statement (emphasis ours):

The House Liberty Caucus urges opposition to the Senate amendment to H. Con. Res. 71, the budget resolution for fiscal year 2018.

This budget never balances, and it adds $5.5 trillion—nearly double the amount added by the House-passed budget—to the national debt over the next decade. In fact, this is the fourth budget in the last seven years that never balances.

Passing a budget that doesn’t address out-of-control spending and adds trillions of dollars to the national debt just to achieve some policy goal—which also could be accomplished with a responsible budget—is an endorsement of a warped worldview where the end justifies the means.

Building a better America for ourselves, our children, and our grandchildren requires Congress to make tough decisions to reduce spending now. Unfortunately, this budget ignores Washington’s spending addiction and places the burden on future generations.

Matt Weibel
Executive Director
House Liberty Caucus

House Speaker Paul Ryan and Ways and Means Committee Chairman Kevin Brady have said that a GOP bill is being worked on and will be released by November 1st.

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[Send a letter to your representatives right now urging them to protect working and middle class Americans and small businesses that depend on tax policies such as the Like Kind Exchange (Section 1031) provision and interest deduction for small business and real estate owners.]