Congressman Adrian Smith (R-NE) today joined with House Republican Leader John Boehner (R-OH) and other members of Congress calling for a bipartisan effort to spur job creation by cutting government spending to 2008 levels. Smith also called for freezing current tax rates for the next two years - preventing the $3.8 trillion tax hike set to take effect on January 1, 2011.
"Unless Congress acts, on January 1, 2011, the average Nebraska family will see their federal income taxes skyrocket from $3,461 to $5,090 - an increase of $1,600. I am especially concerned the Death Tax will re-emerge at a punishing 55 percent - hitting our family farms, ranches, and small businesses.
"We won't solve our fiscal challenges until we cut spending, stop the growth of government, and extend current tax rates. Our country needs real economic growth - which can't happen if Washington keeps raising taxes on farms, ranches, and small businesses. Employers need assurances their costs will not increase before they start hiring again," Smith said.