Tax Increases to Cost FL-13 Middle Class Families $1,300

Washington, D.C. – U.S. Rep. Vern Buchanan (FL-13) called today for Congress to prevent a huge tax increase on Florida families. Citing an independent study done by the non-partisan Tax Foundation, Buchanan said middle class families in Florida’s 13th District would save over $1,300 if the tax cuts of 2001 and 2003 are extended.

“Florida families have been hit particularly hard by the recession,” said Buchanan. “They can’t afford a huge tax increase. I will work to extend the tax cuts and stop out of control spending. ”

The temporary tax cuts that helped boost the economy in 2001 and 2003 are scheduled to expire at the end of 2010. The $3.8 trillion tax increase will affect every American who pays income taxes.

“This would be the largest tax increase in American history,” said Buchanan. “Raising taxes as we struggle to emerge from the worst recession since the Great Depression won’t help create jobs. Extending the tax cuts will help prevent a double-dip recession.”

The Tax Foundation report can be found here: www.taxfoundation.org/news/show/26581.html

VIDEO

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VIDEO: Congressman Buchanan urges Congress to extend the tax cuts of 2001 & 2003

http://www.youtube.com/user/VernBuchanan#p/u/0/alyuhfxhHcs