Foster Votes Against $622 Billion In New Government Debt
Washington, DC – Today, Congressman Bill Foster (IL-11) voted against the Tax Extender package, an unfunded collection of tax breaks that would increase the deficit by $622 billion over the next ten years – and an estimated $2 trillion over the next 20 years.
“The tax giveaways that so-called fiscal conservative Republicans insisted on inserting into this package would add $622 billion to our national debt over the next ten years,” said Foster. “While this bill contains positive elements such as making the R&D tax credit permanent, the fact that it is totally unpaid for means that we are borrowing from foreign countries to pay off special interests today, while forcing future tax increases or benefit cuts onto our children. We need responsible, comprehensive tax reform that will build on the economic progress we have made in the last seven years, but unfortunately, this isn’t it.”