Smith Votes Against Tax Hike

Press Release

Smith Votes Against Tax Hike

Congressman Adrian Smith (R-NE), a member of the House Budget Committee, today voted against S.Con.Res 70 - a resolution establishing the federal government's budget for Fiscal Year 2009. The $3 trillion spending plan passed by a vote of 214 to 210.

"This conference report calls for record tax increases, raises discretionary spending by $241 billion above the President's request, and does nothing to reform entitlement spending, earmarks, or prevent the expansion of the Alternative Minimum Tax," Smith said.

Tax cuts, passed in 2001 and 2003, are set to expire in 2010. When these taxes are brought back online, taxes will rise by a minimum of $2.8 trillion between 2011 and 2018.

On average, 116 million taxpayers will see a jump of $1,800 in their annual tax bill. Some 48 million married couples will face an average increase of $3,000 and elderly tax payers will be hit with increases averaging $2,181. The average Nebraska will see an annual $2,802 increase.

"Americans are feeling increased fuel, health care, and living costs - forcing household budgets to be squeezed. Congress should be taking immediate action to provide relief to American families, rather than passing legislation increasing their tax bills even more.

"This budget fails to live up to one of our basic responsibilities - to act fiscally responsible. Instead, Congress passed a bill which will weaken our economy and kill job growth at a time when many Americans are facing economic challenges. We must do better," Smith said.

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