The White House rolled out a new argument that lawmakers who vote for House Speaker Kevin McCarthy's (R-CA) debt limit proposal are violating a long-held conservative pledge against tax increases shortly before the measure passed, though the organization behind the pledge disagrees.
McCarthy's plan, the Limit, Save, Grow Act of 2023, would raise the debt ceiling by $1.5 trillion or through March 31, 2024, whichever comes first.
"Months after promising not to raise taxes, House Republicans are voting for a middle-class tax increase. Every House Republican who votes for Speaker McCarthy’s bill is voting to raise taxes on working families when they buy efficient appliances, electric vehicles, and other products that would lower utility bills, even as they continue to push for massive tax giveaways for the super-wealthy and special interests," White House spokesman Michael Kikukawa told the Washington Examiner.
Former President George H.W. Bush, vice president under Reagan, notably did not sign the tax pledge and would go on to lose his 1992 reelection bid after raising taxes in office despite pledging on the 1988 campaign trail not to do so. "With 'direct pay' and 'transferability' features, Democrats designed this 'green' corporate welfare to function like direct government spending, rather than traditional tax credits that reduce taxes owed," Smith wrote."As of today, we are still working to better understand how high the price to American taxpayers may become, but much of this can and should be treated as direct outlays to the federal government.
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