Wilson Opposes Largest Tax Increase in American History
Democrat budget paves way for $638 billion tax hike
Congresswoman Heather Wilson (R-NM) today opposed the Budget Conference Report offered by the Democrats that would increase taxes by $683 billion over five years - the largest tax increase in American history. The budget also included billions of dollars in new government programs, but neglected to provide a permanent solution to the Alternative Minimum Tax.
The Budget Conference Report was a combined result of the House and Senate-passed budgets. Wilson opposed the budget containing the largest tax increase in history when it came before the House in March.
"The budget proposed by the Democrats will increase taxes for Americans at all income levels. With a soft economy, we should focus on lowering taxes and allowing Americans to keep more of their hard earned money," Wilson said.
Under the Democrats' proposed budget, the tax relief enacted in 2001 and 2003 will expire, and billions of dollars in new government spending will be put in place.
"If Congress allows these tax cuts to expire, the child tax credit will be cut in half, the marriage tax penalty will be fully reinstated, and the death tax will come back to life. This will particularly hurt small businesses, which are the engine of American job growth."
Democrats also failed to address the issue of the Alternative Minimum Tax and its affect on middle-income earners. The AMT was never adjusted for inflation, and without a permanent patch, will place a larger tax burden on the middle class - something it was never intended to do.
"We passed a last minute fix to the AMT before this tax season, but temporary fixes every year are not enough. I will continue to push for a permanent patch to keep middle class taxpayers from an increase in taxes each year."
The Democrats' budget will force nearly 116 million Americans to pay higher taxes, including married couples, families with children, and small-business owners. On average, taxpayers in New Mexico would see a tax increase of $2,300 per taxpayer.