Do-Nothing House Democrats Won’t Act to Prevent Largest Tax Increase in American History

Congressional Democrats are set to allow the Bush tax cuts to expire.  This would equate to a $2 trillion dollar tax increase.  It is important to recognize who these policies affect.  Working class families (10% bracket returning to 15%).  Earned Income Tax Credit.  Tuition credits.  Marriage penalty.  Death tax.

“Bush Budget Sets Stage For Battle on Tax Cuts”

“…[L]awmakers will have to confront at least one element of the package: the president’s plan to make his big tax cuts permanent.

“…[I]t will be tempting for Congress to allow the tax cuts to expire as scheduled in 2010. But by doing so, lawmakers would be, in effect, approving a $2 trillion tax increase at a time when polls suggest a weakening economy is making tax cuts more appealing to some voters.”

(The Wall Street Journal, 2/5/08)

Rep. John Spratt (D-SC), House Budget Committee Chairman, on making pro-growth tax relief permanent: “It will be something that the next Congress will have to deal with.”  (USA Today, 2/5/08)

CQ: “Even as they drew battle lines over President Bush’s $3.1 trillion budget proposal Monday, Democrats were considering ways to avoid a major spending fight altogether. Some are already saying that if Bush takes the same tough budget stance in the coming months as he did last year, they can wait him out until a new president is elected.” (CQ Today, 2/5/08)