See more news releases in: Domestic Policy
Blunt: Democrats Outdo Themselves with "Mother of All Tax Hikes"
WASHINGTON, Oct. 25 /PRNewswire-USNewswire/ -- House Republican Whip
Roy Blunt (Mo.) issued the following statement today after House Ways and
Means Chairman Charlie Rangel (D-N.Y.) released details of a plan to impose
the "Mother of All Tax Hikes" on American families, including a direct tax
increase of $1.3 trillion.
"Having raised taxes by more than $100 billion already this Congress,
and passed a budget plan that will raise them by at least $300 billion
more, the majority has set a pretty high bar for surprising the American
people with news of another attempt to raise their taxes.
"But in announcing a plan today to increase taxes on working families
by a staggering $1.3 trillion - the largest income tax hike in American
history - Democrats have found a way to outdo even their most historic
tax-raising schemes of the past. Indeed, as the chairman suggested, this is
the 'mother' of all tax bills. And given its scale, it might be the father,
grandfather, nephew and second-cousin of them as well.
"If this plan were to become law, the effective top marginal tax rate
in this country would be the same as it is in Germany. But what Democrats
fail to understand is that, when you adopt European-style tax rates,
European-style growth rates can't be far behind. And the slower we're able
grow our economy, the fewer jobs will be available for American workers and
the less we'll be able to compete in a 21st century, global economy.
"Though the majority will likely suggest this bill is aimed only at the
rich and famous, our nation's small business owners by now know far better
than that. This is a bill that casts an egregiously wide net to pay for
egregiously reckless spending agenda. And if I were them, I wouldn't make
its contents known beyond this building."
SOURCE House Republican Whip Roy Blunt
Back to top
Custom Packages
Browse our custom packages or build your own to meet your unique communications needs.
PR Newswire Membership
Fill out a PR Newswire membership form or contact us at (888) 776-0942.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.
Featured Video
More in These Categories
Journalists and Bloggers
![]()
Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.
View and download archived video content distributed by MultiVu on The Digital Center.
Free Investing Newsletter from Investor Uprising!
Learn to navigate the world's financial system and profit from leading companies.
Register for Investor Uprising, the people's investment site, for a free weekly newsletter, information, education and premium research including our latest IU Confidential Report - "All The Glitters: The Ultimate Gold Report".
