Here are five examples of the additional tax burden we would face under the President’s budget and the House of Representatives energy and health care tax bills. Many District 7 residents will bear the brunt of tax increases with some of the highest tax increases in the country. Our district ranks 9th out of 435 congressional districts in total projected tax increase. It is clear that our district cannot sustain this new tax burden.
These proposed tax increases will go to pay for NEW spending. None of these new revenue streams will address the short-term deficit or our long-term fiscal obligations. To close the short-term budget deficits, income tax rates would have to triple across the income spectrum. In order to pay off our long-term liabilities, every single American would need to write a check to the Treasury Department for over $200,000.
