Douglas Durst, the manager of the National Debt Clock, criticized the GOP tax law, saying “the tax cut was an overall step in the wrong direction” and that “nobody who has any background in economics thought the tax bill was a good idea.”
“I support higher taxes on people like me,” Durst said in an interview with The Washington Post published Monday. “I think America has more of a revenue problem than a spending problem.”
The Hill added:
Durst’s father, real estate magnate Seymour Durst, first installed the National Debt Clock in 1989 on a building near New York City’s Times Square. The clock is currently in a nearby location.
Seymour Durst died in 1995. Douglas Durst, like his father, has been been frequent donors to Democrats, the Post reported.
Two displays of the clock were shown during the 2012 Republican National Convention to highlight the national debt as a major problem.
But Democrats are now blasting the Trump-led GOP for their unprecedented fiscal recklessness following the passage of a $1.5 trillion tax-cut bill last year and their pursuit of additional tax cuts without offsets.
According to the nonpartisan Congressional Budget Office, the federal deficit is now projected to top $1 trillion in 2018 — two years earlier than expected.
The national debt currently stands at about $21.4 trillion, per the U.S. Treasury Department.