River Bend Times

U.S. Senators Jeff Merkley and Ron Wyden have voiced their concerns following the release of new projections by the Congressional Budget Office (CBO). The CBO's analysis indicates that if Republicans proceed with plans to permanently enact a second round of tax cuts, initially introduced during the Trump administration, the national debt could increase significantly.

According to the CBO report, under these Republican budget proposals, the national debt is projected to grow by $4.6 trillion over the next decade. By 2054, this would result in a national debt amounting to 214 percent of GDP, compared to 166 percent under current legislation.

Senator Merkley criticized these plans, stating: “Congressional Republicans are on a mission to make sure their rich friends like Elon Musk get tax giveaways, and they’ll do anything to achieve it." He emphasized that such actions would burden working families while benefiting millionaires and billionaires.

Senator Wyden echoed these sentiments: “This nonpartisan analysis makes it clear there will be nowhere to hide from the hypocrisy if Republicans use fake math to give a handout to billionaires.” He accused Republicans of misleading Americans with what he described as "a sham" intended to benefit wealthy individuals at the expense of future economic stability.

The CBO's findings highlight potential negative impacts on the nation's economy should these policies be implemented.