WASHINGTON, DC — In the latest MAGA Majority political stunt, the Republican-led Committee on Oversight and Accountability is holding a hearing today to distract from their own debt-ballooning trickle-down policies that failed to create jobs — including the Bush and Trump-era tax breaks skewed towards big corporations and the richest 1% that grew the national debt by over $10 trillion. A review from government watchdog Accountable.US of the Republican witness list for the subcommittee hearing today entitled “Bidenomics: a Perfect Storm of Spending, Debt, and Inflation” found deep credibility problems. The hearing is a transparent effort to manufacture another economic crisis to set the stage for a costly MAGA shutdown that will needlessly hurt everyday Americans, including disruptions in Social Security and VA benefits.
The MAGA House Majority is actively pushing trillions of dollars in new debt-ballooning tax breaks for corporations and their rich donors yet somehow want their debt 'concerns' to be taken seriously,” said Liz Zelnick, Director Of Accountable.US’ Economic Security & Corporate Power Program.
“Republicans in Congress exploded the national debt with the corporate Trump tax giveaways and are now using that debt as an excuse to demand harmful cuts against America’s seniors, workers, students, patients and the food insecure. Rather than take any responsibility, MAGA extremists pledge to make matters worse – threatening to shut down the government unless they get harmful cuts aimed at everyday Americans while refusing to do away with a single tax loophole or any special tax breaks for giant corporations and their billionaire donors.”
What You Need to Know About the Today’s Republican Witnesses:
- Witness Carrie Sheffield, who is an analyst for the conservative Independent Women’s Forum and who previously worked for a project of the Koch-backed Americans For Prosperity, claimed Trump’s corporate tax cuts “benefit everybody” and blasted the Biden administration’s Inflation Reduction Act for not doing enough to lower energy prices and “unleash” American oil.
- Witness E.J. Antoni, who is a research fellow for the conservative Heritage Foundation, has frequently railed against President Biden’s efforts to lower inflation, claiming his plan to hire IRS agents and raise corporate energy taxes and capital gains taxes would do nothing to address rising inflation.
- Witness Casey Mulligan, who is a former Trump official and professor of economics at the University of Chicago, claimed Trump’s tax cuts would save American lives, urged Congress to make them permanent, and railed against President Biden’s “Build Back Better” plan, claiming it would push the economy into a recession.