Budget Raises $1.4 Trillion in New Taxes on Small Businesses and Families, Increases Debt by $3.7 Trillion
- Congressman Steve Scalise today made the following statements regarding President Obama's fiscal year 2010 budget proposal that was submitted to Congress today.
"Just two days after President Obama addressed Congress and said "too much spending is dangerous,' he presents us with a budget that contradicts his own words by taxing and spending at record levels. This budget proposed today increases the national debt by $3.7 trillion over the next five years and raises taxes on more than 50 percent of small business owners in America. During tough economic times, you can not raise taxes on the very people who create 70 percent of our nation's jobs. This proposed budget is a job killer that will saddle our children and grandchildren with trillions of dollars in additional debt."
Yesterday Scalise joined some of his colleagues on the House Floor to discuss the massive spending bills that have passed Congress during President Obama's first five weeks, as well as next year's federal budget.
On the floor, Scalise showed a cartoon from Tuesday's Times-Picayune that depicts people on a Mardi Gras float titled "Stimulus" throwing buckets of money out to the crowd. You can watch the clip here.
64 percent of Americans who file individual tax returns in excess of $250,000 are small business owners. 70 percent of American jobs are created by small businesses.