Press Conference with House Minority Leader John Boehner (R-OH); Rep. Roy Blunt (R-MO); Rep. Tim Walberg (R-MI)' Rep. Adam Putnam (R-FL); Rep. Marsha Blackburn (R-TN) - Taxes and the Economy; The Tax Increase Prevention Act
Statement
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REP. WALBERG: Thank you, Mr. Leader. I appreciate the opportunity.
As an proponent of -- or opponent of tax increases for my 16 years in the statehouse, having never voted for one, and had the privilege to cosponsor or sponsor almost 26 tax cuts that impacted Michigan's economy in the late '90s -- mid- to late '90s, I'm just excited about this opportunity to push forward on this Tax Increase Prevention Act, House Resolution 2734.
As the leader said, it stopped the massive tax increase in the Democrats' budget, a tax increase that amounts to $3,000 per taxpayer. Specifically, my bill would make permanent the tax cut relief of 2001 and 2003, and stop tax increases on raising children, earning money -- of all things -- saving and investing, operating a small business, adopting a child, paying off college loans, and even -- worst-case scenario -- dying.
In my state of Michigan, beloved state, families and businesses have unfortunately felt the firsthand powerful and negative impacts of tax increases, as Michigan has experienced job losses, declining personal income, diminishing home values, and the highest unemployment, sadly, in the nation. By proposing a massive $3,000 per taxpayer tax increase, Democrats in this Congress are following the same failed blueprint that Michigan's governor, Jennifer Granholm, and her Democrat leadership have used to drive our state's economy into a ditch and to destroy Michigan jobs.
In these turbulent times, the economy and all that goes with it, Congress needs to encourage job creation, hard work, investment and innovation. With Americans facing rising health care costs, high energy prices and economic instability, the absolute last thing families need is to be hit with a massive, job-killing tax increase.
So I appreciate the leadership's willingness to push forward with this proposal, and look forward to the opportunity for a lot of debate and, ultimately, success in protecting our taxpayers for greater opportunity in the future.
Thank you.
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Q How exactly would this bill work? What would it actually do? You say it stops tax increases from happening, but that means -- (off mike).
REP. WALBERG: Well, it's a very, very simple approach: it makes permanent the '01 and '03 tax cuts. They are set to expire in 2011; a massive tax increase will take place. We saw in the Democrat budget proposal that went through the House -- we saw elimination of those tax benefits for the citizens across this great land and, next five years, over $680 billion of massive tax increase, ultimately resulting in a $3,000 tax increase on every taxpayer in the United States.
Q It functionally wouldn't prohibit all these other increase in taxes; it's just the '01 and '03 increases, the Bush --
REP. WALBERG: Absolutely. Well, and those are the tax cuts that were talked about.
Q Well, it was -- the way you were talking about it, it seemed like it stopped all tax increases. That's -- (off mike).
REP. WALBERG: No. And if you read the bill, the bill very clearly says it's the '01 and '03 tax cuts, making those permanent.
Q Do you pay for any of this?
REP. WALBERG: Pardon?
Q Do you pay -- do you offset the cost?
REP. WALBERG: Well, the beauty of it is that the economy will pay for it with great growth. Historically, I mean, it's non- debatable when you -- whether it's Ronald Reagan or whether it's John F. Kennedy or whether it's this bill making sure that tax increases aren't going in place on these things, it impacts the economy in a growing way. Revenue increases not only for the taxpayer. And that's my biggest concern, that my citizens -- my farmers, my small-business owners, my individual citizens, my people who are getting married, and frankly, the heirs, when their father or mother, grandfather dies and leaves the farm to them, that they benefit as well -- when they benefit, also government benefits, and the revenue increases for us as well.
So pay for it, absolutely; economy will rebound.
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