Washington, D.C. - U.S. Congressman Kevin Brady (R-The Woodlands) vigorously opposed the new Democrat Congress’ fiscally irresponsible budget that will raise taxes on Texas families by an average of $2,755 each year.

The $683 billion tax increase in the five year budget is the largest tax hike in U.S. history.  
  
 “Texans want Congress to balance the budget not by increasing spending and raising taxes as Speaker Pelosi wants to do, but by holding down new spending and keeping taxes low for families and small businesses,” said Brady, who led  GOP members of the Joint Economic Committee in opposition.

“Washington ought to tighten its belt before it asks our families to tighten theirs, especially with the cost of living getting higher each day,” added Brady.

The Democrat budget increases taxes to historic levels, increases the deficit to more than $300 billion next year, ignores the looming crises of Social Security and Medicare, and allows pork barrel earmarks to continue unabated.

The GOP budget – which lost - balances the budget in five years by restraining spending a mere 3 per cent, keeps tax relief in place, directs Congress to begin preserving Social Security and Medicare next year, and places a one-year moratorium on earmarks until bi-partisan commission can make recommendations on reforming the abuses.

The last GOP budget in 2007 ran a deficit of $162 billion, half of its highest figure. The Democrats first budget since taking control of both houses of Congress is expected to run a deficit more than twice that size, $357 billion. Next year is projected to be another $300 billion deficit.

“If you care about balancing the budget and erasing the deficit, we are definitely going the wrong direction,” said Brady. “We were spending too much when Republicans were in charge, now it’s just gone haywire. The deficits are back bigger and badder than ever.”

According to The Heritage Foundation think tank study, the new Democratic budget will cost 2,222 jobs in the 8th Congressional District of Texas due to the economic slowdown higher taxes will bring. That means of loss of nearly $300 million for the local economy.

The tax hikes proposed in this budget resolution will hit hard on low and middle income families, small businesses, and families with children. By increasing the number of dollars sent to the federal government Democrats will be taking money out of the pockets of business’ which prevents them from investing locally and will suppress the creation of new jobs, while jeopardizing those currently employed.

The budget allows the state and local sales tax deduction to expire, which saves $1.2 billion a year for Texas taxpayers. Brady is leading the charge to restore the deduction which expired last December 31.

###

Congressman Kevin Brady is GOP Deputy Whip, and a sixth-term member of Congress who sits on the House Committee on Ways and Means, and the Joint Economic Committee.