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This Week in Washington: This Week in Washington: U.S. Rep. Tom Graves


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Congress returned to Washington this week for its final work period before November's mid-term elections and amazingly, with our economy remaining sluggish and nearly 15 million Americans looking for work, the Democrat majority is considering a massive tax increase that will hurt small businesses and kill even more jobs.

On New Year's Day, when you wake up to watch a long day of football, your taxes will have gone up.

After spending trillions upon trillions of dollars that we don't have, the Democrat majority is now trying to find a way to feed the growing beast of the federal government, and their answer is coming in the form of higher taxes.

This tax increase will be the largest increase in American history - a $3.9 trillion tax hike - that will affect every single taxpayer in the nation.

Personal income taxes will rise with increases in each and every tax bracket.

Taxes will increase on marriage and family when the "marriage penalty" will be reinstated and the child tax credit will be cut from $1,000 to $500 per child.

The Death Tax will go from 0 percent to a whopping 55 percent top rate on estates over $1 million, passing along a huge tax burden on a family whose loved one leaves behind a retirement account and property.

Taxes will rise on savers and investors when the top capital gains tax will increase from 15 percent this year to 20 percent in 2011 and the top dividends tax rate will rise from 15 percent this year to 39.6 percent in 2011 and continue to rise to 43.4 percent in 2013.

With a struggling economy and nearly all Americans trying to make ends meet, no one should face a tax increase.

The President and Speaker Nancy Pelosi are also attempting to justify that these tax increases may only affect those Americans who are making over $250,000.

However, many of these individuals are owners of America's small businesses which generate the power for the economic engine that runs our economy.

I will not support a bill that raises taxes on any sector of America, including small businessmen and women.

If there was more certainty coming out of Washington that taxes would remain low and that government regulation would not stifle innovation and job creation, the business community would respond with investment that will ultimately lead to job growth.

President Obama, Speaker Pelosi and the Democrat majority have it all wrong. They have not listened to the American people when they've said "enough is enough," but I have.

The 9th District Economic Advisory Council that I appointed earlier this year met via conference call this week and shared with me that all they hear coming out of Washington is talk of more taxes, increased health care costs and higher energy bills. They said these are impediments to job growth and are stopping small businesses from expanding and hiring more workers.

If Congress is serious about job creation, there's one clear way forward. And that's for us to come together and pass legislation immediately that stops all of the approaching tax hikes. That is why I've co-sponsored legislation which would block these tax increases and keep your taxes low.

Stopping these tax increase will show Congress is committed to economic growth through an expansion of the private sector, not bigger government.

My hope is North Georgia will lead the way and the Economic Advisory Council will provide solutions to foster an environment in Georgia's 9th District that is the most free-market, capitalistic, entrepreneurial friendly district in the country.

With unemployment hovering around ten percent, we need solutions and I am confident that blocking higher taxes is the first step in turning this country around.

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