WASHINGTON (AP) The House has narrowly passed a $2.9 trillion Democratic budget blueprint predicting a surplus in five years but relying on the expiration of tax cuts to do so.Democrats are recommending the larget tax increase in history...who's surprised by that? That sucking sound you will hear will be our economy...
5:30PM UPDATE: Via email:
Congressman John Boehner (R-West Chester) today issued the following statement after the House approved the Democrats’ budget proposal, which included the largest tax hike in American history:“After passing the largest tax hike in history and larding up an emergency troop funding bill with billions in pork, House Democrats today skipped town for a two-week vacation. To pay for all of their reckless spending, Democrats slapped working Americans and small businesses with higher taxes that will stifle our economy and hurt job creation. Each and every middle-class family would face higher income taxes, a higher marriage penalty, and will see their child tax credit begin to wither away if the Democrats’ budget were enforced. In my state of Ohio for example, middle class families face an average tax hike of $2,716. Middle class families deserve tax relief, not a tax hike.NOTE: The Democrats’ budget proposal approved today would raise taxes by nearly $400 billion. Republicans believe we can balance the budget by keeping taxes low, promoting economic growth, and putting an end to the excessive waste, fraud and abuse within the federal government.
“I commend Rep. Ryan for his leadership in crafting the Republican budget proposal which would balance the budget in five years without raising taxes. Our proposal includes critical protections for Social Security, and it sets the table for serious, long term reforms—something the majority simply chooses to ignore. It is the right approach for middle class families, and it’s the right approach for bringing greater fiscal discipline to our bloated federal government.”
