Congressman Patrick McHenry today issued the following statement upon the House Democrats passing the largest tax increase in American history – $392.5 billion – as part of the largest federal budget in history, which checks in at $2.9 trillion. The 1993-1994 House Democrats held the previous record for raising taxes; they passed a $240 billion tax increase – which, interestingly, preceded the 1994 Republican Revolution. The Congressman’s statement is below:
“The biggest difference between Republicans and Democrats is spelled out every time taxpayers check their bank statements,” said Congressman McHenry. “The Democrats talk about providing ‘a new direction’ while imposing the same, tired tax-and-spend fiscal philosophy they’ve pushed for 70 years. They voted to pickpocket taxpayers for bigger government, more spending, and less accountability. The Democrats are making the American people pay for what they got last November.”
Republicans proposed an alternative budget, which balances the budget by 2012 without raising taxes. Additionally, it saves $279 billion by instituting reforms to entitlement programs, takes Social Security off the budget, increases veterans’ health care funds by $42.4 billion, and matches President Bush’s original funding request for our men and women in the military. The Democrats voted down this proposal by a measure of 268 to 160.
The Democrats’ federal budget will impact millions of American taxpayers; the details of which are below:
• 115 million taxpayers will see their taxes increase, on average, by $1,795
• 83 million women will see their taxes rise, on average, by $2,068
• 48 million married couples will incur average tax increases of $2,899
• Taxes will increase, on average, by $2,181 for 42 million families with children
• 12 million single women with children will see their taxes increase, on average, by $1,082
• 17 million elderly individuals will incur average tax increases of $2,270
• Taxes will rise, on average, by $3,960 for 26 million small business owners
• Over 5 million taxpayers who previously owed no taxes will become subject to the individual income tax
