Williams Says Failure to Extend Tax Cuts Alarming

Press Release

Sestak Supports Biggest Tax Increase in Nation's History

The House of Representatives blocked consideration of legislation today to make the tax cuts of 2001 and 2003 permanent. According to Craig Williams, the Republican candidate in Pennsylvania's 7th Congressional District, "this will cost local families thousands of dollars in higher taxes each year at a time when many are struggling to make ends meet." Williams, who is running on a platform of fiscal discipline and opposition to tax increases, is disappointed by Sestak's opposition to the bill, which failed on a largely party line vote today with 220 Democrats voting to block consideration of the bill.

"The failure to extend these tax cuts - which are set to expire in 2011 -- will result in a huge tax increase for local residents and small businesses," said Craig Williams, who last month signed a pledge to oppose all tax increases if elected to Congress. "Income tax rates are going to increase for all workers, the child tax credit will be cut in half, and small business taxes are going to increase. These tax increases send the wrong message to consumers and companies, especially given the current economic climate."

During House proceedings today, Republicans attempted to force consideration of the Tax Increase Prevention Act (H.R. 2734), that would wipe out the $683 billion tax increase that was included in the House Democrats budget resolution approved in March. The bill was widely supported by taxpayer advocate groups including Americans for Tax Reform and the National Taxpayer's Union. The effort to bring the bill to the floor for consideration was blocked, with 220 Democrats, including Congressman Sestak, voting to prevent consideration of the legislation. 196 Republicans and Democrats supported consideration of the bill. (Source: Roll Call Vote 186)

Earlier this month, Federal Reserve Chairman Ben Bernanke warned against tax increases such as those proposed in the House Democrats budget, stating, "New tax increases would reduce disposable income and consumption and that would be a concern." (Source: Dow Jones Newswire, 4/2/08).

"Joe Sestak's vote today will result in an average tax increase of $2,796 per taxpayer in the 7th District," said Williams. "Our economy is in a very fragile state and the massive tax increase proposed by House Democrats will only contribute to the economic slowdown. Congress should be doing everything possible to relieve the financial pressure on our citizens and neighbors, not supporting massive tax and spend measures."

Analysis of the Democrat budget resolution by The Heritage Foundation, a Washington, DC based public policy institute, shows that the tax increases would make the 7th Congressional District the third hardest hit district in all of Pennsylvania. In addition to the $2,796 per taxpayer increase, the budget resolution is also projected to result in the loss of 2,216 jobs in the Seventh District, a per capita personal income loss of $1,662, and a $303 million loss to the local economy. (Source: http://www.heritage.org/Research/Budget/images/wm1844_table_10-OR-SD.gif).

"Congressman Sestak and I have major philosophical differences on the issue of taxes," said Williams. "I believe that the federal government can immediately change the daily lives of my neighbors by cutting wasteful spending and lowering taxes whenever and wherever possible. Congressman Sestak sided with Nancy Pelosi over the financial interests of local taxpayers. We deserve better than that."

Craig Williams is the endorsed Republican candidate for the office of U.S. Representative for the 7th Congressional District of Pennsylvania, comprising of most of Delaware County and parts of Montgomery and Chester Counties. Williams is a former federal prosecutor, Marine combat veteran, and former active duty Deputy Legal Counsel to the Chairman of the Joint Chiefs of Staff. He lives in Concord Township, Delaware County, with his wife Jennifer, daughter and two step-children. The 7th District is his home - where he lives, where his kids go to school, where he pays taxes, where he attends church, and where he intends to spend the rest of his life.

Source