Gianforte Votes to Cut His Own Taxes, Explode the Deficit, Slash Billions from Medicare
Helena—Today, multimillionaire Greg Gianforte voted to explode the deficit by more than $1.5 trillion and cut $25 billion from Medicare in order to give himself and the super-wealthy millions of dollars in tax cuts.
With a net worth of more than $300 million, Greg Gianforte is the wealthiest member of Congress. According to the Tax Policy Center, the proposal that Gianforte voted out of the House would cut his taxes by more than $174,000 in 2018, and by as much as $320,000 a year by 2027. In 10 years, almost 50 percent of all the tax breaks in Gianforte’s bill will go to multimillionaires like him.
So how are Gianforte and his party bosses are going to pay for these tax giveaways to the richest Americans? By adding more than $1.5 trillion dollars to the federal deficit. To make things worse, increasing our national debt by trillions of dollars will trigger an automatic cut of $25 billion to Medicare next year, jeopardizing health care for older Montanans.
And yet, Gianforte has called this plan “fair.” He is actually so desperate to cut his own taxes that he told Lee Newspapers, “This is a do-or-die situation for the Republican leadership…We need to get it done by the end of the year or we’ve missed our window.”
“Montanans sent Greg Gianforte to Congress to fight for them in Washington, not give himself and other multimillionaires a massive tax cut,” said Nancy Keenan, Executive Director of the Montana Democratic Party. “But today Gianforte voted to bury our children under $1.5 trillion in debt and gut Medicare, all so he could put hundreds of thousands of dollars a year back into his own pockets. Montanans deserve a real leader who understands Montana values, not a dishonest multimillionaire who is just looking to make his next buck.”