Senate budget resolution: “world’s largest tax increase” for working Americans

Posted by Staff on May 20, 2008 |

Budget Committee Ranking Member Judd Gregg (R-N.H.) says that the Senate will be doing a budget resolution this week, and that it’s apparent from the “two resolutions that passed both the House and the Senate with basically democratic votes” that this resolution will have a massive tax increase. He said the increase for families with 50,000 dollars of income and two children, husband and wife, will represent an almost 2,100 dollar tax increase. He said for 24 million small businesses it will represent a 4,100 dollar tax increase, and for 18 million senior citizens it will represent an over 2,000 dollar tax increase. He said, in addition, for the “first time we will cross the line in one trillion dollars in discretionary spending.” (1:06)

 
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May 20, 2008
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