Thursday, November 17, 2005
Press Release from House Dems Cardin and McGovern
FOR IMMEDIATE RELEASE
From the Offices of Rep. Ben Cardin (D-MD) and Rep. Jim McGovern (D-MA)
Under the guise of fiscal responsibility, the GOP has unleashed an unprecedented attack on middle class and working class Americans. The GOP budget proposes to cut the deficit in half in five years not only by giving up our effort for affordable healthcare and senior well-being, but also by raising taxes for middle class Americans, and by planting a deficit time bomb set to explode after the magical five year deadline passes. This imaginary number also ignores billions in outlays on the war in Iraq as well as relief and rebuilding expenses in the gulf.
In refusing to index the tax brackets and exemptions of the AMT for inflation, the GOP proposal raises taxes for millions of middle class Americans over the next few years. Instead of addressing this looming crisis now – and the cost of addressing it will grow exponentially in the future – Republicans in Congress prioritized making permanent the fiscally disastrous tax cuts that only benefit the wealthiest Americans and which created the gaping budget deficit they are now pretending to address.
The only thing special about 2010 is that the enormous costs of the proposed tax cuts won't take effect until then, permitting the Republicans to make the ridiculous short-sighted assertion that their budget actually cuts the deficit.
The Democratic budget proposal, on the other hand, successfully handles the pending AMT disaster, strengthens the Social Security system and ensures its long-term solvency, and pares back the most fiscally irresponsible of President Bush's tax cuts. Our proposal makes the tax system more equitable while also helping middle class families and working Americans. Rather than cutting funding for low-income housing, the Democratic budget restores America's commitment to its citizens' true values.
From the Offices of Rep. Ben Cardin (D-MD) and Rep. Jim McGovern (D-MA)
Under the guise of fiscal responsibility, the GOP has unleashed an unprecedented attack on middle class and working class Americans. The GOP budget proposes to cut the deficit in half in five years not only by giving up our effort for affordable healthcare and senior well-being, but also by raising taxes for middle class Americans, and by planting a deficit time bomb set to explode after the magical five year deadline passes. This imaginary number also ignores billions in outlays on the war in Iraq as well as relief and rebuilding expenses in the gulf.
In refusing to index the tax brackets and exemptions of the AMT for inflation, the GOP proposal raises taxes for millions of middle class Americans over the next few years. Instead of addressing this looming crisis now – and the cost of addressing it will grow exponentially in the future – Republicans in Congress prioritized making permanent the fiscally disastrous tax cuts that only benefit the wealthiest Americans and which created the gaping budget deficit they are now pretending to address.
The only thing special about 2010 is that the enormous costs of the proposed tax cuts won't take effect until then, permitting the Republicans to make the ridiculous short-sighted assertion that their budget actually cuts the deficit.
The Democratic budget proposal, on the other hand, successfully handles the pending AMT disaster, strengthens the Social Security system and ensures its long-term solvency, and pares back the most fiscally irresponsible of President Bush's tax cuts. Our proposal makes the tax system more equitable while also helping middle class families and working Americans. Rather than cutting funding for low-income housing, the Democratic budget restores America's commitment to its citizens' true values.
posted by Leslie H # 4:09 PM 
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