 |
| Democrats' Budget Increases Taxes |
March 17, 2008 |
| |
Dear Friends,
The budget Congress passes every year is a blueprint. It looks into the future five years and charts a path for where the majority intends to go if they have their way.
Last week, the House voted on a budget that makes crystal clear where they would guide the country. They didn’t even try to hide it. The Democrats’ budget, which I opposed, plans to raise taxes by $683 billion over the next five years. That’s the largest tax increase in American history.
In 2001 and 2003, we passed tax relief that will expire in 2010 unless Congress acts. The Democrat budget assumes all of the tax relief we passed will be allowed to expire. Under their budget, the child tax credit will be cut in half, the marriage penalty will come back into the tax code, income taxes will go back up, the alternative minimum tax will continue, and the death tax will come back to life.
Nearly 116 million Americans will pay higher taxes under the Democrats’ budget plan. Taxpayers in New Mexico would see an average annual tax increase of $2,300 per taxpayer.
Sincerely,
|
|
|
|