Washington, DC – Today, Club for Growth President David McIntosh issued the following statement in response to talk of an automatic tax hike trigger being added to the Senate’s tax reform package:
“The idea of a ‘tax hike trigger’ should be rejected on its merits,” stated Club for Growth President David McIntosh.
“Any senator who understands basic business principles and truly cares about the deficit should understand that this trigger is an automatic tax increase and will actually harm economic growth. It will have harmful impacts on American businesses and undermine any economic growth potential in this tax reform bill because businesses will not invest due to the possibility of a higher tax rate.
“What Senators Lankford and Corker are saying here is that if the deficit gets too large, then they want to tax people more. Here’s an idea. How about cutting spending? Just yesterday Senator Lankford issued 100 wasteful examples of federal spending. But instead of cutting the programs, ironically, Senator Lankford would allow wasteful measures like them to continue to receive funding – through his automatic tax increases no less!
“If they’re truly worried about the deficit and they want to establish a trigger, then they should limit the size of government. A spending cut trigger would be a far better idea.”