Pete Sessions: “I will talk more later, but perhaps the most important thing about this budget--with the points of order that are set in…”

“I will talk more later, but perhaps the most important thing about this budget--with the points of order that are set in it and the fact that it is increasing spending rather than reducing spending--it is going to block the extension of extremely popular tax reductions that have been in place for a number of years. Then the taxes will go up on families. It will go up for children. For children, the tax credit will go down from $1,000 to $500. The capital gains rate--which actually raises revenues when it is cut--will go up. Other taxes will go back up, such as for dividend income. That is not the right direction for America. This is not our heritage. We need to contain the growth of spending and not go back to higher taxes.”