On the recordApril 15, 2011
I thank Mr. Rokita for the time. I want to applaud my colleagues in the Progressive Caucus for doing something which I think is intellectually honest. In fact, I think if you look at a couple of budgets that we're going to be looking at over the next 2 days, the budget that the Budget Committee has offered, I think is a fair and honest representation of where the Republican Party is. The Republican Study Committee budget that we'll see in just a few minutes is a fair and honest representation of where the Republican Study Committee stands. And this budget, I think, is offered as a true and honest position, a policy statement, of where the progressives in this body and in this country stand. And for that I thank them. That being said, it's hard to imagine a document that is more different from our document. There are $16 trillion worth of tax increases in this document. To the extent that the progressives do stand and are honest in their belief that taxing and spending is the way to fix the Nation, this document certainly does contain that. All of the 2001, 2003 tax cuts, which we affectionately refer to around here as the Bush tax cuts, are gone, not just the ones on the highest income earners, everybody. This is a tax increase on almost everybody. In fact, it is a tax increase on everybody in the entire Nation. The top marginal rates under this proposal go from 45 percent up to 49 percent. The capital gains rate goes up to as high as 49 percent.…





