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Roskam: New Budget is the Definition of Tax and Spend

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Location: Washington, DC

ROSKAM: NEW BUDGET IS THE DEFINITION OF TAX AND SPEND

Congressman Peter J. Roskam (R-IL) today released the following statement in response to the unveiling of the Democrat 2008 budget.

"The 2008 budget introduced by the Democrat majority will amount to the largest tax increase on the American people in history - nearly $400 billion. The 2001 and 2003 tax cuts that created jobs, spurred investment in the economy and kept more hard-earned money in the pockets of hard-working families will be left to expire.

"The U.S. is on track to eliminate the deficit without raising taxes by 2012. The Democrat budget also aims for 2012, but will try to do so by eliminating tax breaks for families by re-imposing the marriage penalty and repealing the child credit. In addition, the budget fails to fix the alternative minimum tax (AMT), which severely hurts middle class families. Democrats need to realize that fostering a strong, growing economy is the best means of raising revenue, not raiding the pocketbooks of Americans.

"The new majority should have taken this opportunity to extend the tax cuts and rein in spending. Instead they are increasing taxes and allowing spending to spiral out of control. This budget is the worst thing this Congress could do to our economy."


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