House Democrats on the Budget Committee today rejected the earmark reform proposal offered by Jack along with Reps. Wolf and Wamp that would reform the earmarking process. The committee voted down the measure by a vote of 21-16 during today's markup of the FY2009 Budget Resolution.
The resolution before committee today's:
- Includes the largest tax increase in history - Democrats plan to raise taxes by $683 billion and will raise taxes on marraige and children, investments, small businesses, and estates. This more than doubles the previous record set by President Bill Clinton in 1993.
- Adds $276 billion to the President's budgest with $3 trillion in annual spending.
- Does nothing to address Social Security and Medicare's balooning costs and will increase the unfunded liabilities to $52.5 trillion by 2013.
- Brings about the largest annual increase in debt at a whopping $646 billion