ROSKAM: DEMOCRAT BUDGET WILL CRIPPLE ECONOMY, HURT IL 6th DISTRICT
Congressman Peter J. Roskam (R-IL) today helped introduce the Tax Increase Prevention Act to remove all sunset provisions of the 2001 and 2003 tax relief packages that have helped spur the recent economic growth in response to proposed Democrat tax increases.
"The approved House Democrat FY08 Budget Resolution is expected to impose a $400 billion tax increase on the American people which will cripple our nation's economy and cause massive job loss," said Roskam. "The federal government does not have a revenue problem, it has a spending problem. Just as the families in Illinois' 6th Congressional District do, the federal government must live within their means."
According to the Heritage Foundation the House Democrat FY08 Budget Resolution which passed the House of Representatives on May 17, 2007 would affect Illinois' 6th Congressional District profoundly:
· $4,316 - average tax increase per 6th CD taxpayer
· 2,469 - total 6th CD job loss
· $289 million - loss to the 6th CD economy
"Since August 2003, more than 8 million jobs have been created nationally, with more than 1.9 million jobs created over the twelve months." said Roskam. "Our economy has now added jobs for 45 straight months, and the unemployment rate remains low at 4.5 percent. Repealing the tax cuts would derail this economic engine and put about 2,500 of my constituents out of a job."