Late last week — in the middle of the night — U.S. Senate Republicans pushed through a major overhaul of America’s tax system.
It’s one of the biggest reshufflings of the American economy we’ve ever seen. And yet, Senators didn’t even get a chance to read what was in the bill.
We know that it includes a major cut in the corporate tax rate, it gets rid of the individual mandate that supports Obamacare, and it makes changes to how we treat so-called pass-through corporations. It would also increase the national deficit by more than $1 trillion over a decade.
That’s one thing that is making some fiscal conservatives scratch their heads.
Dalmia says if Republicans hadn’t already sold their souls when it comes to economic policy, they have now.
“They have been complaining about deficits and debt forever,” she says. “This bill is going to blow up the deficit.”
Click on the audio player above to hear the full conversation.