Washington, DC (March 29, 2007) - Congressman Jeff Miller (R-FL-01) today voted against the H. Con. Res. 99, the Democratic written Fiscal Year 2008 Budget. The average Floridian will pay $3,039.71 more in taxes each year if this budget becomes law, according to Americans for Tax Reform. The measure passed 216-210.
“I simply refuse to vote for the largest tax increase in this country’s history,” Miller said.
This Budget would increase non-defense, non-emergency spending by $22.5 billion for next fiscal year, with such spending to rise 2.4 percent in each of the next three years. To pay for these increases, the resolution would raise taxes by close to $400 billion over five years -- about $100 billion more than what was passed in the Senate.
“I think the federal government needs to balance the budget and retire the national debt,” added Miller. “We need to do it by cutting wasteful government spending, not raising taxes on seniors and hardworking American families.”
Some of the tax hikes are aimed at increasing taxes on dividend income and capital gains tax, taxes that especially affect seniors. More than half of America's seniors receive dividend income each year, and more than 30 percent receive capital gains income. These seniors will see their taxes on dividends and capital gains go up by an average of $1,100 if the Democrats’ budget becomes law.
House Republican proposed an alternative Fiscal Year 2008 Budget. It not only retains Bush tax cuts but also proposes deep reductions in spending, protects Social Security payments and shrinks the national debt. That alternative was defeated 268-160.
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