Walberg Joins House Colleagues to Introduce Tax Increase Prevention Act

Press Release

WALBERG JOINS HOUSE COLLEAGUES TO INTRODUCE TAX INCREASE PREVENTION ACT

The American people will soon see a $400 billion tax increase, which will increase taxes for marriage, having children, adopting children, earning money, saving money, paying on college loans and dying. Job creators will see higher taxes for research and development, making a profit, giving shareholders a dividend and buying products for small businesses.

The Tax Increase Prevention Act, introduced by Congressman Tim Walberg and 80 of his House colleagues, will simply take away all the sunset provisions of the 2001 and 2003 tax relief packages that passed Congress and provide American families and job-creators certainty to plan for the future.

"Because tax relief passed by Congress in 2001 and 2003 is working, states are much more likely to take fiscally responsible moves and tighten their belts instead of hiking taxes. States that were once in recession are now brimming with tax revenue. The few states that are struggling, such as my home state of Michigan, have hope for a turnaround in the future because these tax cuts are creating jobs and leaving more money in the pockets of taxpayers," said Congressman Tim Walberg (R-MI).

"Taxpayers should not be punished by the inability of Washington to live within its means. Failure to make the tax cuts permanent will kick the legs out from under our economy, making life more difficult for millions of Americans. Washington has a spending problem, not a revenue problem," said Former U.S. House Majority Leader Dick Armey, FreedomWorks Chairman.

"The tax cuts have been a tremendous success story, and not extending them would hurt all taxpayers and amount to the largest tax increase in history," said Grover Norquist, Americans For Tax Reform President.

"Taxpayers applaud the sponsors of the Tax Increase Prevention Act for working to make permanent the recent tax reductions that have kept our economy strong," said Pete Sepp, VP for Communications of the 362,000-member National Taxpayers Union. "If tax cuts are allowed to expire, the average American taxpayer would face over $3,000 in additional federal income taxes per year. Thanks to the foresight of these Members of Congress, we're on our way to avoiding a staggering increase in tax bills."

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