Hailey Gomez
Republican Texas Rep. Chip Roy said Monday on Fox Business that he would like President Donald Trump’s “one big, beautiful bill” to address “deficit numbers” and tax policy before giving his approval on it.
Late Sunday, the House Budget Committee narrowly pushed through the president’s budget reconciliation package, with Roy among three other conservatives who pushed back against approving the legislation and voted “present.” While discussing his vote on “The Bottom Line,” co-guest host David Webb asked the representative what else he would need to get him to vote yes, noting he “mentioned the Green New Scam.”
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“Yeah, I’d like to see more of the deficit numbers that we’re seeing that are front loaded be brought down. Right now, if you look at the chart with the data and the analysis that is most favorable to the big, beautiful bill, it still shows about 1.4 trillion in additional deficit spending over the first five years,” Roy said. “Then it drops off. In the last five years you get significant deficit reduction so that it works out to be close to a wash.”
“Now, my problem is I’ve been in D.C. for a little bit, but anybody watching this, would you go bet your life savings that in five years we’re going to wake up and find those savings?” Roy asked. “No. The problem is we’re going to be ramping up deficits for the next three or four years. Now, some of that’s OK. Tax policy that we want to put in place for growth, and we want to make sure that we’re dealing with the border and the defense. I get that.”
Prior to its approval, the budget reconciliation package suffered a setback Friday as Republican South Carolina Rep. Ralph Norman, Republican Oklahoma Rep. Josh Brecheen and Republican Georgia Rep. Andrew Clyde joined Democrats in voting “no” against the bill. However, the four Republicans eventually allowed the package to move forward as it had made “progress” on being more fiscally responsible.
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Roy went on to say that his second point would be to address the tax policy within the budget reconciliation package, highlighting how he is still “skeptical” of the “high growth tax policy.”
“But the idea that we’re going to have magical savings in five years never materializes,” Roy said. “I think one other point about this. The tax policy is not high growth tax policy. The expensing is important, but the corporate rate reductions are already permanent. We’re talking about a lot of stuff like child tax credits, standard deductions, lower marginal rates for lower-end brackets. None of that is high growth tax policy.”
“So I’m a little skeptical of the out year on that. I think the growth we’re going to get is from the stuff we’re hearing Scott Bessent and the president talking about. That, by the way, is why we assume 2.6% growth and we assume two and a half trillion dynamic scoring. What I just told you about was all dynamically scored. We still have massive deficits in the first five years,” Roy said.
With Republicans aiming to push through Trump’s legislative agenda, Republican House Speaker Mike Johnson said Sunday that he hopes to send the reconciliation package to the Senate by Thursday, with the next vote scheduled for Wednesday in the House Rules Committee. Republicans seek to finalize the package by Memorial Day.
(Featured Image Media Credit: Screenshot/Fox Business/”The Bottom Line”)
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