Concurrent Resolution on the Budget for Fiscal Year 2009

Floor Speech

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Mr. MARIO DIAZ-BALART of Florida. Mr. Chairman, the Democrats' leadership may not want to admit that they are going to impose on our Nation's workers, on our taxpayers, on the small and mid-sized businesses of this country the largest tax increase in American history. But, regrettably, as this Democratic budget again proves, raising taxes is exactly not only what they have planned, but what they are doing in this budget, and it is important that taxpayers know what these massive tax hikes will mean to them, to you, to the American people. So, let's take a look at how this budget impacts the American people, the American family, the American taxpayer.

A family of four with $50,000 in annual income would see a tax increase of over $2,100, $2,100 by 2011, as a result of this budget. That is a tax increase of 191 percent.

Forty-eight million married couples. So listen up, if you are one of those 48 million. Chances are you are. Forty-eight million married couples will see their tax bills rise by an average of $3,000.

Twelve million single women with dependents will face a tax increase of nearly $1,100.

Eighteen million seniors, 18 million seniors, will see a tax increase of more than $2,100 by 2011.

Twenty-seven million small business owners, who are the backbone of our national economy that create the jobs, will see their taxes increase by over $4,000.

More than 6 million low-income taxpayers, yes, 6 million low-income taxpayers who previously paid no Federal income tax, because of the changes in the Tax Code due to the elimination of the 10 percent tax rate, will see a huge tax increase.

These are just a few of the examples of what this budget does. I respectfully ask Members to oppose this budget.

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