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: Blunt: Largest tax hike in American history will hit parents, families
Blunt: Largest tax hike in American history will hit parents, families
by Bend Weekly News Sources
WASHINGTON - Republican Whip Roy Blunt (Mo.) asked House Democrats today to defend their decision to use the upcoming budget resolution to raise taxes on millions of American families by reinstating the marriage penalty and slashing the amount available to families through the child tax credit:
"The absolute last thing American families need this year -- or any other -- is a stiffer, more punitive tax bill. But under the Democrats' budget proposal, hard-working families who could be using their money for family dinners, new school clothes, after-school tutoring, piano lessons -- anything but more taxes -- will be forced to send thousands more to Washington each year on top of what they already pay."
The Democrats' budget resolution would eliminate relief for married individuals by reversing the current policy of giving married couples a standard deduction for joint returns twice the amount of that for single returns. This will also push married couples into a higher bracket than if they were not married and filing as individuals.
The budget also seeks to cut the widely supported child tax credit -- from its current level of $1,000 per dependent, to just $500. The impact of such a move would fall disproportionately on low-income families, raising taxes on 31 million Americans with 49 million children by an average of $859 per year.
"I think the Democratic budget speaks to a fundamental difference between our side and the majority: We believe American families know best how to spend the money they earn, while Democrats believe government bureaucrats are better suited for the job. And it's a distinction the budget debate on the floor this week will highlight in sharp detail."
The Democrats' budget, slated for a vote on the House floor on Thursday, will impose the largest tax increase in American history -- nearly $400 billion over five years. Eliminating relief from the marriage tax penalty will raise taxes on 23 million Americans. Cutting the child tax credit will raise taxes on 31 million Americans.
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