Scott Peters Accuses GOP Of Spreading ‘Falsehood’ That Budget Tax Cuts Won't Cost Money

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During House floor remarks on Wednesday, Rep. Scott Peters (D-CA) spoke of his disapproval for the GOP budget.   Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:  https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript   Stay Connected Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes:  http://forbes.com

Transcript

00:00Mr. Speaker, I yield one minute to the gentleman from California, distinguished member of the

00:05Budget Committee, Mr. Peters.

00:06Gentleman is recognized for one minute.

00:08There are a lot of difficult things about this, but one thing I want to say is that

00:11the Republicans are actually trying to change the rules, rules of the game, to say that

00:18this tax cut doesn't cost any money.

00:21The Senate is ignoring the rules we've observed for decades, ruling out the parliamentarian,

00:27just declaring that this tax code, that extending these tax cuts doesn't cost any money, and

00:33that's a falsehood.

00:34We're just changing our accounting rules to do this.

00:37The other fault with this is the chairman, Mr. Arrington, rightly pointed out we're borrowing

00:42$2 trillion a year, every year.

00:44This does nothing about that.

00:46All this does is take money from important programs to fund the extension of tax cuts,

00:52many of which are for the wealthy.

00:53Some may be for the non-wealthy, but much of it is for the wealthy.

00:57It's the wrong thing to do, and every independent analysis says this will not lower the budget

01:02deficit, but will increase it, and if you don't believe me, look at when we vote for

01:05the debt ceiling increase, $5 trillion to $18 trillion, what are we going to vote for?

01:10This is the wrong direction.

01:12We should vote it down.

01:13The gentleman from Texas.

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