Ric Killian and Edwin Peacock Support $2 Trillion Tax Hike

May 04, 2012, 17:32 ET from Americans for Tax Reform

--Why do Ric Killian and Edwin Peacock support a budget that raises taxes by $2 trillion?--

WASHINGTON, May 4, 2012 /PRNewswire-USNewswire/ -- The following is being released by Americans for Tax Reform:

In their bid to secure the Republican nomination in North Carolina's 9th Congressional district, both Ric Killian and Edwin Peacock refuse to sign the Taxpayer Protection Pledge. By examining their websites, it is now clear why. Both Killian and Peacock admit that they think the best solution to our fiscal crisis is a $2 trillion tax hike.

According to Ric Killian's website, he believes that we should "adopt fundamental Simpson-Bowles fiscal recommendations." According to Edwin Peacock's website, the Simpson-Bowles fiscal recommendations are "the roadmap to correct this problem."

House Budget Committee Chairman Paul Ryan, who voted against Simpson-Bowles, writes:

"Relative to a current policy baseline, the proposal would increase revenues by $2 trillion over 10 years." ["Expanded Views on the Fiscal Commission," by Paul Ryan, Dec. 4, 2010]

The Heritage Foundation scored Simpson-Bowles as a $3.3 trillion tax increase over ten years:

"Overall, the fiscal commission would raise taxes by $3.3 trillion over the decade." Heritage also wrote that Bowles-Simpson would be "the highest sustained tax burden in American history." ["Fiscal Commission Report: Too Much Taxes, Not Enough Spending Cuts," by Brian Riedl, Dec. 3, 2010]

Americans for Tax Reform calls on Ric Killian and Edwin Peacock to side with the taxpayers of North Carolina by renouncing the Simpson-Bowles plan and signing the Taxpayer Protection Pledge.

"By supporting the Simpson-Bowles recommendations, Ric Killian and Edwin Peacock demonstrate that they are out of touch with the taxpayers of North Carolina," said Grover Norquist, president of Americans for Tax Reform. "Voters should know that by voting for either Killian or Peacock, they are voting for a candidate who promises to raise their taxes when they get to Washington."

In the crowded primary, Dan Barry, Andy Dulin, Ken Leonczyk, Richard Lynch, Jim Pendergraph, Robert Pittenger, and Mike Steinberg have all signed the Taxpayer Protection Pledge to "oppose any and all efforts to increase the marginal income tax rates for individuals and/or businesses … and oppose any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing tax rates."

"I urge Killian and Peacock to join with the others in promising never to raise taxes on the voters of North Carolina," continued Norquist. "All candidates should recognize that higher taxes are not the solution to Washington's problems."

Americans for Tax Reform is a non-partisan coalition of taxpayers and taxpayer groups who oppose all tax increases. For more information or to arrange an interview please contact John Kartch at (202) 785-0266 or by email at jkartch@atr.org.

SOURCE Americans for Tax Reform