Ryan Calls for Fiscal Responsibility on Tax Day
As Americans celebrate' Tax Day, First District Congressman Paul Ryan reiterated the need to stop painful tax hikes called for by the House Majority. Amidst our current economic slowdown, there have been painful spikes in the cost of food, energy, health care, and more. To further burden American families with massive tax hikes is clearly a move in the wrong direction.
In spite of our nation's economic difficulties, the House Majority recently passed a budget resolution that calls for the largest tax increase in American history, totaling roughly $683 billion. While American workers and families are struggling to makes ends meet, the House has called for the following: increases the marginal rates for all workers; increases taxes $500 per child; reimposes the marriage penalty and death tax; and fails to permanently address the Alternative Minimum Tax.
Congressman Ryan proposed an alternative budget resolution that would have eliminated the deficit without raising taxes. It also included a one-year earmark moratorium and took meaningful steps to address the unsustainable path of our vital health and retirement security programs. Unfortunately, this fiscally responsible budget alternative was voted down on the House floor on March 13, 2008. On the day that tax returns are due to the federal government, Congressman Ryan issued the following statement:
"Wisconsinites are painfully aware that prices for nearly everything - from groceries to gas - are on the rise. To add further tax increases is a fundamentally flawed policy, yet the Democrat's budget would do just that. They have chosen a path that would raise taxes on the average Wisconsinite by $2,965. We simply cannot afford the vicious cycle of ever-higher spending chased by ever-higher taxes.
"Tax Day provides us an opportunity to reflect on the need to tackle our urgent fiscal challenges. The looming tax increases in the short-term pale in comparison to what will come should we fail to address the unsustainable fiscal path that Medicare, Medicaid, and Social Security are currently on. Absent meaningful reform, these programs will overwhelm our federal budget, and double the tax burden on the next generation.
"Congress is failing in its responsibility to be good stewards of taxpayers' hard-earned money. The American people deserve better from their leaders, and I am optimistic that we can rise to meet the fiscal challenges before us. We must seize this opportunity to provide tax relief for American families and workers, and restore the retirement security and health safety net for our nation's most vulnerable."