Walberg: Welcome to the Higher Taxes Buffet

Press Release

U.S. Congressman Tim Walberg (R-MI) issued the following statement about the Democratic budget proposal voted on today in the House:

"With today's tax proposal, Democrats are inviting American taxpayers to come to their Higher Taxes Buffet. On the $3.1 trillion spending menu of this tax increase buffet:

- The largest tax increase in American history, $683 billion
- A raise in tax rates for every American worker
- An elimination of the 10 percent tax bracket for low-income earners
- A tax increase of $500 per child
- A reinstitution of the marriage penalty and death tax
- An 8.8 percent increase in federal spending
- A promise of at least $100 billion in new spending through "reserve funds" likely to be financed with additional tax hikes
- For 18 million elderly individuals, taxes would increase by an average of $2,181
- Tax bills for 27 million small-business owners would rise, on average, by more than $4,000

"If you're a fan of higher taxes, today's budget proposal is really something special. But if you're an American taxpayer struggling to pay for gas, milk, health care and college tuition, this budget is a disaster. If you're an American worker looking for a job, this buffet of tax increases isn't going to help you find work.

"On behalf of the hard-working families of south-central Michigan, I urge House leadership to stop this $680 billion tax increase and work towards a budget that encourages job creation, balances the budget and spends taxpayer dollars in a responsible manner."

BACKGROUND:

- The average Michigan taxpayer would pay over $3,000 more per year under the budget plan.

- "Across the Capitol, the House was to vote on a companion Democratic measure predicting larger surpluses while allowing $683 billion worth of tax increases…" (AP, 3/13/08)

- The Democrat tax hike is the largest tax increase in American history. The Democrat budget includes a massive, broad-based, job-killing $683 billion tax increase on working families and small business entrepreneurs - all to finance wasteful new Washington spending. In order to get our economy moving again, we must stop a Democrat tax hike in its tracks and instead cut taxes for middle-class families and small business owners.

- Congressman Walberg introduced H.R. 2734, the Tax Increase Prevention Act, which would prevent the $680 billion tax increase from going into effect. H.R. 2734 has over 120 co-sponsors so far.

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