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TAX DAY CAUSES CONCERN FOR CARTER

04/15/08

Washington, Apr 15, 2008 -

Today millions of Texas taxpayers will line up at their local post offices for the unwelcome annual ritual of filing federal income tax returns.  Though Democrats plan on pursuing a bill that would slam Texans with the largest tax increase in American history, Carter stressed that he will continue to fight for new tax relief for the middle class.

“Death and taxes may be certain in life, but Congress can and should work to prevent taxpayers from paying more in federal taxes,” Congressman Carter said.  “The last thing Texans need right now is a larger tax bill.  I will continue to work with my Republican colleagues to stop this tax hike in its tracks and, instead, cut taxes for middle-class families and small business owners.”

The Democrat tax plan would hit the average tax-paying Texan with a $2,755 annual tax increase, according to the House Budget Committee.  A family of four earning $50,000 will pay an additional $2,155 in taxes.  Costing $683 billion, the tax plan cuts the child tax credit in half, resurrects the death tax, and dramatically reduces tax incentives for small business owners.  Marginal income tax rates, capital gains and dividend taxes all increase, while tax credits fall back.

“Tax relief empowers Texans to do what they do best-strengthen our workforce and keep our economy competitive,” Congressman Carter continued.  “Now more than ever, it’s critical that families keep more of their paychecks, to make ends meet, as the cost of living continues to outpace to rate of inflation.  It’s just common-sense that we allow middle-class families to keep more of their hard earned money.”

Carter is also a supporter of H.R. 2734, the Tax Increase Prevention Act, a measure that would stop the Democrat tax hike.  The House of Representatives is expected to vote on this measure as early as today.

 

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