KEVIN BRADY says Republican tax law of 2017 is not fully paid for:
“We will know in year 8, 9 or 10 what revenues it brought in … I don’t think anything could have been worse for the deficit than to stick with the old economy and stick with the tax code that was so outdated”
The U.S. posted its biggest monthly budget deficit on record in February, spending $234 billion more than it took in.
That’s a 46 percent larger deficit than the government saw in the *entirety* of 2007.
The federal government’s budget deficit in May rose to a record $207.8 billion, 41.5% higher than a year ago.
Through the first 8 months of this budget year, the budget deficit totals $738.6 billion, an increase of 38.8% over the same period last year.
CAVUTO: Do you regret that tax bill vote [because the pay-go] was removed]?
PAUL: No, b/c I voted for a tax bill w/ the pay-go
CAVUTO: Knowing that they took that out after, do you regret that vote?
PAUL: No. I regret that 91 of my colleagues voted to take pay-go out
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