BUDGET CALLS FOR AT LEAST $217 BILLION IN ADDITIONAL TAXES

Washington, May 17, 2007 - "Spending someone else's money is easy, and that's the road this budget proposal takes," stated Rep. Cliff Stearns (R-Ocala).  "Today, the economic situation calls for fiscal responsibility and budget reform, and this budget fails on both while raising taxes by at least $217 billion.

Stearns today voted against passage of S.Con.Res. 21, the House and Senate agreement on the federal budget.  Explained Stearns, "This would increase marginal tax rates, capital gains rates, and dividend taxes.  In addition, if Congress spends too much, it would trigger an end to marriage penalty tax relief and cut the child tax credit in half.  While increasing taxes, this plan calls for higher spending for non-defense programs.  Finally, it fails to reform federal spending habits; this budget finds savings of only $750 million out of $8.5 trillion in mandatory spending over 5 years."