Saxby Chambliss: “I voted against the budget resolution for the 2008 fiscal year because it contained record-breaking tax increases on…”

“I voted against the budget resolution for the 2008 fiscal year because it contained record-breaking tax increases on hard-working American families in a time when we should be putting more money back into the pockets of taxpayers, not taking it out. This year's budget resolution is historical because it proposes the largest tax increase ever--$916 billion in tax increases on the backs of the American people. This is almost four times the amount of the second largest tax hike in history, $240 billion proposed in 1993. By letting progrowth tax policies expire, this resolution reaches deep into the pockets of hard-working families and seeks to reduce the take-home pay of a family of four earning $50,000 by as much as 6 percent. Additionally, this budget ignores the concerns of future generations. Proposed tax hikes would slow the economy, and stifle investment and job creation. Since 2003, over 7 million new jobs have been created. The U.S. economy is experiencing 5 uninterrupted years of growth, and since the tax cuts of 2003, the rate of economic growth has more than doubled. Tax increases move us in the wrong direction and that is why I am opposing this budget resolution--because it is wrong for the economy, wrong for hard-working families, and wrong for America.”