Republican Senator Ron Johnson of Wisconsin has expressed serious concerns about the potential deficit impact of President Donald Trump's sweeping tax and spending bill, hinting that he may vote against the legislation.
Johnson, a fiscal conservative known for his criticism of Washington's alleged inability to control government spending, has released a report arguing that the bill would exacerbate the national debt, even under optimistic economic growth scenarios, and fail to set the country on a path to reducing budget deficits.
According to the Daily Caller, Johnson has informed the Senate leadership that he will vote against the budget package in its current form and has urged Senate Majority Leader John Thune to delay the vote until after his self-imposed deadline of July 4. "I hope he [Thune] doesn't, because I really think it'll be voted down," Johnson told reporters. He added, "If we do vote down, I don't want anybody to interpret it as a slap in the face of either Leader Thune or President Trump. Its just saying, Guys, we need more time.'"
Johnson's call for more time is rooted in his desire for the Senate to improve upon the House's work. "I want the Senate to take what the good work the House did and make it a much better bill and thats going to take a little more time," he said. He emphasized the need to fully comprehend the magnitude of the problem and devise a plan to extricate the nation from the "enormous debt hole weve dug for ourselves."
Despite praising the House for proposing to cut approximately $1.6 trillion over a decade, Johnson believes that this level of spending reduction is insufficient to counteract the increase in budget deficits and the national debt. "It is historic. Its unprecedented how much they are reducing spending in the House bill," Johnson said. "Unfortunately, its just inadequate for the moment."
Johnson is urging Thune to delay the vote on the President's bill until a plan can be formulated to return to pre-pandemic spending levels. His report underscores his belief that without firm commitments to return to these levels, Congress will never be in a position to balance the budget. Despite the lack of concrete plans to drastically cut spending, Johnson said that everyone continues to negotiate in good faith.
While Johnson has repeatedly stated his support for many of the budget package's provisions and his desire for the President to succeed, he has also made it clear that he cannot support a multi-trillion increase to the national debt. "Clearly, the OBBB [one big, beautiful bill] does not bend the deficit trajectory downward," the report states. "It adds $3 trillion to the cumulative deficit and continues the upward trajectory on the same unsustainable path."
The release of Johnson's report coincides with the Congressional Budget Office's new analysis, which predicts that the House-passed bill would spur economic growth by a modest 0.5% on average, but would also add $2.8 trillion to budget deficits over a decade. This deficit growth expands to more than $3 trillion when accounting for increased government borrowing costs due to rising interest rates.
Johnson's report also criticizes the President's global tariffs, labeling them a "recessionary risk" and comparing them to the 1930s Smoot-Hawley tariffs, which many economists believe exacerbated the Great Depression and increased costs for American consumers.
Despite likely facing significant pressure to support the legislation, which encompasses much of the President's legislative agenda, Johnson appears resolute. "If theres one role Im playing in this process its forcing everybody to look at the reality, to look at the forest, and the forest is on fire," Johnson said.
"You can argue about the twigs and leaves on the forest floor, but Im forcing everybody to take a step back and look at the forest. Its blazing, and we got to put this forest fire out."
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