Alexander Votes Against Federal Budget That Hits Tennessee Family Budgets With a $2,300 Tax Hike

Budget Includes Largest Tax Increase in U.S. History – $1.2 Trillion

Posted on June 4, 2008

Senator Lamar Alexander (R-Tenn.) today released the following statement after voting against the budget resolution for fiscal year 2009, which will lead to higher taxes for millions of Americans, dramatically increase spending, and result in more federal debt: “This plan will wreck the family budgets of 43 million American households with an average tax increase of $2,300 apiece. At a time when gas prices are reaching $4 per gallon, the housing market is in a slump, and the economy is suffering, Congress shouldn’t be heaping more taxes on families, but should instead be lowering health insurance costs, keeping taxes low, and creating jobs and opportunities for all Americans.” Alexander continued, “We’ve been hearing a lot of talk about change this year, but a real change would mean lower taxes, less wasteful spending, and more attention on the family budget. I’m disappointed the Democratic leadership proposed a budget that is bad for Tennesseans and for millions of Americans who are looking for relief.” Alexander’s objections to the budget include the following provisions: · $1.2 trillion tax hike – the largest ever. It will hit family budgets hard – 43 million families will owe $2,300 more, 18 million seniors will owe at least $2,200 more each year, and at least 27 million small businesses will owe at least $4,100 more each year. · $210 billion spending increase. In fiscal year 2009, that will mean a 9 percent increase over what we spent for fiscal year 2008. · $2 trillion increase in the national debt by 2013. That’s more than $6,000 in extra debt for every American. The budget resolution passed by a vote of 48 to 45.