Hensarling noted that Republican tax relief and the pro-growth policies of the Republican Congress and President Bush are clearly working and pointed to a strong national economy and near record tax receipts.  CBO estimated that government receipts were up 11.8% in 2006, the second highest increase since 1981. 

“The shrinking federal deficit shows that the tax relief passed by President Bush and the Republican Congress has left more money in pockets of hard working Americans at the end of each work week.   

“As a result of GOP pro-growth policies, incomes are rising, the economy is growing, and over 6.6 million jobs have been created for American workers over the past 3 years.  In America today unemployment is down, the stock market is at record levels, the deficit is down, after-tax incomes are up, and homeownership is near an all-time high.  That’s a pretty strong economic record. 

“The Democratic party has never understood that spending causes a deficit, tax relief is one of its cures.  Despite what Democrats might have you believe, the American people can put their money to far better use than Washington can. 

“Washington doesn’t have a taxing problem, it has a spending problem.  Nancy Pelosi, Charlie Rangel and their band of liberal Democrats are not shy about their intent to raise taxes, which will eat away at millions of new jobs that were created because American workers and small business owners got to keep more of their own money.   

“The choice couldn’t be any clearer: If we want to pay more in taxes, Democrats have stated their intent and have a proven track record; if we want to keep taxes low and the economy rolling, Republicans also have a record.” 

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For additional information about Congressman Jeb Hensarling (R-Dallas),
Chairman of the Republican Study Committee’s Budget Taskforce,
 please visit www.house.gov/hensarling.