Wicker Condemns Largest Tax Hike in American History
Friday, March 14, 2008
WASHINGTON – U.S. Senator Roger Wicker (R-Miss.) today made the following statement after voting against the Senate Democrats’ FY 2009 budget, which raises taxes on lower- and middle-income families and calls for the largest tax increase in American history:
“Rather than outlining a responsible fiscal blueprint for our government, this budget asks American taxpayers to send $1.2 trillion more of their hard-earned money to Washington. This means 43 million families would see their tax bill increase by $2,300.
“Families across Mississippi sit around their kitchen table each month trying to make their budget work. They worry about the economy and about stretching their dollars to pay their tax bill in April. They also worry about finding the money needed to keep their cars full of gas costing over $3.00 a gallon. Knowing this, it is reckless and absolutely wrong for Democrats to propose this gigantic tax increase.
“While I joined in the effort to amend and improve this budget, I cannot support the final version. I understand the challenges facing Mississippi’s families, and I will not vote to allow Washington to add to those challenges by taking more of their hard-earned money.”
The Democrats’ budget:
- Fails to extend current tax rates, resulting in a $1.2 trillion tax increase over the next 5 years – the largest in American history
- Calls for tax hikes on 116 million Americans, including 43 million families that will see their tax bill increase by an average of $2,300
- Increases discretionary spending by $210 billion over the next five years
The Associated Press reported yesterday that the Democrats’ budget “would allow income tax rates to go up on individuals making as little as $31,850 and couples earning $63,700 or more” [Andrew Taylor, “Presidential Hopefuls to Vote on Budget,” Associated Press, 3/13/08].
The story goes on to add that “[u]nder both [Senate and House budget] Democratic plans, tax rates would increase by 3 percentage points for each of the 25 percent, 28 percent and 33 percent brackets. At present, the 25 percent bracket begins at $31,850 for individuals and $63,700 for married couples” [Andrew Taylor, “Presidential Hopefuls to Vote on Budget,” Associated Press, 3/13/08].