Press Release

BUCHANAN OPPOSES MASSIVE TAX AND SPEND BUDGET

Washington, DC -- Congressman Vern Buchanan (R-FL 13) voted today against a congressional budget that would raise taxes on middle-class Americans and swell federal spending at a time when the nation has a record-high debt.  The House of Representatives narrowly passed the measure by a vote of 216 to 210.

The $2.9 trillion plan raises taxes by nearly $400 billion – costing each Florida taxpayer on average more than $3,092 in additional out-of-pocket expenses.  The 2008 budget also increases spending so dramatically that it would cause the deficit to rise from $209 billion this year to $241 billion in 2009.

“This budget provides for the largest tax increase in American history, drastically increases deficit spending, and if enacted will slow economic growth,” Buchanan said.  “I didn’t come to Congress to raise taxes.  We can balance the budget and keep taxes low by holding the line on spending.  This budget does none of that.”  
 
Among those who will experience a tax increase if the Democrats’ plan becomes law:

• 26 million small business owners, by an average of $3,960.
• 48 million married couples, by an average of $2,899.
• 42 million families with children, by an average of $2,181.
• 12 million single women with children, by an average of $1,082.
• 17 million senior citizens, by an average of $2,270.

For his part, Congressman Buchanan supported an alternative budget plan that balances the budget by 2012 without raising taxes or using the Social Security surplus, and is the author of H.J.Res. 21, legislation that amends the U.S. Constitution to require a balanced budget by 2012.