Adrian Smith: “The update of the President's budget estimates released Friday shows Washington still has not gotten the message.…”

“The update of the President's budget estimates released Friday shows Washington still has not gotten the message. Dangerous economic and fiscal policies are not helping our country. They're resulting in deficit, debt, and an economy which continues to struggle. Now after 18 months of government takeovers, Congress is positioned to allow the largest tax increase in history on American families and small businesses to take effect next year. January 1, 2011, every single tax bracket will increase. That means if a small business in Grand Island, Nebraska, paid 35 percent in Federal taxes this year, next year it will have to pay nearly 40 percent. When Times Square celebrates a new year, Americans who own a farm or ranch will see death taxes rise from 0 to 55 percent. We cannot tax and spend our way back to a healthy economy. I urge my colleagues to join me against any tax increase on working families, small businesses, and farmers and ranchers before they wake up on January 1 to a brave new world.”