GOP Reforms Hold Taxes Flat, While President Calls for Massive Tax Increase
Source: Office of Management and Budget and the House Budget Committee
DEMOCRATS CALL FOR MASSIVE JOB-KILLING TAX INCREASE
FACT: The President’s budget calls for a massive and permanent increase in spending.
FACT: The $1.5 trillion increase in federal taxes in the President’s budget DOES NOT even pay for all that new spending – his budget NEVER balances and his deficits are GETTING BIGGER.
FACT: The non-partisan Congressional Budget Office predicts this level of taxation will hurt job creation and REDUCE THE WORKFORCE by more than 2 million people.
REPUBLICANS CALL FOR PRO-JOBS TAX REFORM
FACT: Republicans want to spur economic growth, and that starts with reforming a tax code that is too complex, too costly, and too burdensome for families and individuals.
FACT: Republicans are calling for comprehensive tax reform that keeps taxes at historically sustainable levels– not a tax cut. The ideas put forward by Ways and Means Chairman Dave Camp and incorporated into Budget Committee Chairman Paul Ryan’s Budget Resolution HOLD TAXES FLAT at historically normal levels – between 18 and 19 percent of GDP.
FACT: Independent experts have analyzed these reforms, along with spending reductions, as CREATING 2.5 million NEW PRIVATE SECTOR JOBS.