Sen. Lankford: We Have to Address the Deficit, if You Have a Tax Increase, It Will Slow the Economy Down
‘If you don’t want fewer dollars coming in then you have to be able to deal with the tax policy’
Jun 8, 2025 1:00 PM
By Grabien Staff
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EXCERPT:
LANKFORD: “We've got to address the deficit. We've got to be able to tackle this. Here's the assumptions that the Congressional Budget Office makes. The Congressional Budget Office makes the assumption we're going to have this giant tax increase next year, that's not going to affect the economy, that's not going to slow the economy down. We're going to have the same amount coming in and the same economic activity. No one really believes that's true. If you have a giant tax increase in January, it will slow the economy down. It will hurt economic activity, and you'll actually have less dollars coming in. So if you don't want fewer dollars coming in, then you've got to be able to deal with that tax policy. So what we're trying to do is, as much as possible, keep the tax rates the same as what they are. Only in Washington is that called a giant tax decrease when you're trying to be able to keep them the same as much you can.”
