{"id":2801,"date":"2018-06-27T15:32:00","date_gmt":"2018-06-27T15:32:00","guid":{"rendered":"http:\/\/democrats.org\/blog\/2018\/06\/27\/trump-tax-law-leads-to-record-breaking-deficits-risks-another-financial-crisis\/"},"modified":"2018-06-27T15:32:00","modified_gmt":"2018-06-27T15:32:00","slug":"trump-tax-law-leads-to-record-breaking-deficits-risks-another-financial-crisis","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/trump-tax-law-leads-to-record-breaking-deficits-risks-another-financial-crisis\/","title":{"rendered":"Trump Tax Law Leads To Record-Breaking Deficits, Risks Another Financial Crisis"},"content":{"rendered":"

The Trump tax law gave massive new tax breaks to big corporations and the top 1% at the expense of working families. Now the Congressional Budget Office warns that the Trump tax law is leading our country into record-breaking deficits and heightening the risk another financial crisis. Trump and Republicans really sold Americans out.<\/span><\/p>\n

 <\/p>\n

Trump and Republicans promised that the Trump tax law would pay for itself.<\/span><\/p>\n

 <\/p>\n

Washington Post Editorial<\/a><\/span>: “Republicans argue that they do not have to pay for the big tax cut they are proposing, because it will pay for itself.”<\/p>\n

 <\/p>\n

Steven Mnuchin<\/a><\/span>: “Not only will this tax plan pay for itself but it will pay down debt.”<\/p>\n

 <\/p>\n

Instead, the Trump tax law will lead to record-breaking debt and heighten the risk another financial crisis.<\/span><\/p>\n

 <\/p>\n

Politico<\/a><\/span>: “U.S. cruises toward record-breaking debt on Trump's watch”<\/p>\n

 <\/p>\n

Los Angeles Times<\/a><\/span>: “Trump tax cuts carry a big price tag: Huge debt and risk of another financial crisis, budget office warns”<\/p>\n

 <\/p>\n

The Trump tax law imposed a new tax on churches, synagogues and other nonprofits, while it gave new tax breaks to the rich and big corporations.<\/span><\/p>\n

 <\/p>\n

Politico<\/a><\/span>: “Republicans have quietly imposed a new tax on churches, synagogues and other nonprofits, a little-noticed and surprising change that could cost some groups tens of thousands of dollars.”<\/p>\n","protected":false},"excerpt":{"rendered":"

The Trump tax law gave massive new tax breaks to big corporations and the top 1% at the expense of working families. Now the Congressional Budget Office warns that the Trump tax law is leading our country into record-breaking deficits and heightening the risk another financial crisis. Trump and Republicans really sold Americans out.   <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2801","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nTrump Tax Law Leads To Record-Breaking Deficits, Risks Another Financial Crisis - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/trump-tax-law-leads-to-record-breaking-deficits-risks-another-financial-crisis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-27T15:32:00+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/trump-tax-law-leads-to-record-breaking-deficits-risks-another-financial-crisis\/\",\"url\":\"https:\/\/democrats.org\/news\/trump-tax-law-leads-to-record-breaking-deficits-risks-another-financial-crisis\/\",\"name\":\"Trump Tax Law Leads To Record-Breaking Deficits, Risks Another Financial Crisis - 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