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Boustany Fights $2,642 Tax Hike on Southwest Louisiana Families

Mar 12 2008
 
Washington, D.C.  – U.S. Representative Charles W. Boustany, Jr., MD, R-Southwest Louisiana, today argued against a proposed Democratic budget that would raise taxes on Southwest Louisiana families and contained wasteful spending.
 
“Extra money for tax hikes might be in the family budget for people in San Francisco, but families in Southwest Louisiana do not have extra room in their budgets,” Boustany said. “Wasteful spending and tax hikes are irresponsible. The Democratic House leadership must understand that American families are facing higher costs at the pump, higher costs for healthcare and education, and more money to pay federal taxes simply isn’t there.”
 
The Democratic budget proposal includes a massive $683 billion tax increase spread over five years in order to finance wasteful Washington spending according to the Congressional Budget Office. Taxpayers in Louisiana face average tax increases of $2,642. While failing to address growing entitlement programs, House Democrats are proposing tens of billions more in new federal spending facilitated by the tax increase.
 
In addition, the Democratic budget contains the following:
 
Ø      Cuts to the child tax credit, from $1,000 to $500 per child
Ø      Decreases to the adoption tax credit
Ø      Decreases in tax-free 401 (k) and IRA contributions
Ø      Tax increases for small businesses averaging more than $4,000 per business
 
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