Washington D.C. – With President Biden set to deliver a national address today on MAGA House majority’s extreme economic agenda — including replacing the current tax code and even the IRS with a supremely-regressive 30 percent national sales tax that punishes the middle class to make the rich richer — government watchdog Accountable.US warned it is only the beginning of the sacrifices MAGA extremists want America’s working families and seniors to make to protect their wealthy special interest donors. MAGA extremists in the U.S. House are threatening to hold the economy hostage by not raising the debt ceiling unless they get major concessions that hurt working people and seniors most of all, including deep cuts to Social Security and Medicare benefits.

The MAGA House majority is clearly delighted with all the ways they think they can use the debt limit to squeeze middle-class working families and seniors to protect tax breaks for their wealthy corporate donors. MAGA extremists are testing the waters to see how far they can go in their backwards economic agenda written by and for wealthy special interests – starting with a staggering 30 percent tax hike on the middle class with a national sales tax that would immediately make necessities unaffordable while letting greedy corporations off scot-free from any tax responsibility. Such a proposal amounts to a crushing tax hike on the middle class yet a multi-trillion-dollar tax break to corporations and billionaires that would be asked to pay virtually nothing, let alone their fair share.

That’s only the beginning. A growing chorus in the Republican House caucus is scheming to sabotage the economy and the U.S. government’s full faith and credit unless they get deep cuts to Social Security and Medicare benefits that keep millions of Americans out of poverty and in better health. MAGA lawmakers want to gut Medicaid which keeps millions of seniors in nursing homes and food aid for the hungry rather than see their wealthy special interest donors pay a nickel more, even corporations that have been caught overcharging consumers. When MAGA extremists openly threaten to push the economy off the cliff unless they can further enrich billionaires and big corporations at the expense of everyone else – believe them.”

Liz Zelnick, Director of Accountable.US’ Economic Security & Corporate Power program
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