Higher taxes on the horizon?

Here at the Bossier Press-Tribune, we receive many press releases via fax, email and "snail mail." We tend to look each one through the eyeglass of "Is it in Bossier, and/or Does is affect Bossier?"

With our limited space in the newspaper, and so much going on in the local community, not everything we would like to publish in print makes it to the final copy of the newspaper.

Yesterday, I received the following press release from U.S. Rep. Jim McCrery's Office:

WASHINGTON – About 1.4 million Louisiana taxpayers need to brace themselves. The budget proposed by Democrats would raid their wallets.

The House Budget Committee today began consideration of the Democrats’ fiscal blueprint – a blueprint that includes the largest tax increase in United States history.

The smoke-and-mirrors budget proposed by the Democrats fails to extend key tax breaks. It also includes no meaningful entitlement reform, and it calls for spending some $24 billion more than the president’s request.

“They can call it whatever they want, but when more American’s pay more taxes, it’s a tax increase,” said U.S. Rep. Jim McCrery, ranking member of the House Ways and Means Committee.

The passage of the Economic Growth and Tax Relief Reconciliation Act of 2001 and the Jobs and Growth Tax Relief Reconciliation Act of 2003 gave 1.4 million Louisiana taxpayers lower income tax bills and allowed 323,000 business taxpayers in the state to use their tax savings to invest in new equipment, hire additional workers and increase pay. More than 1.2 million Louisiana taxpayers benefited from the 10-percent bracket created and accelerated in those acts.

Also, 429,000 married couples and single parents in Louisiana benefit from the increase in the child tax credit under the acts.

The continuation of those tax breaks is noticeably omitted in the Democrats’ proposed budget.

“Democrats will argue that this budget does not guarantee that taxes will rise, but that argument is facetious at best,” said Ways and Means Ranking Member Jim McCrery. “Democrats do not deserve the benefit of the doubt – if they planned to extend the tax cuts, the budget would reflect it.”

The Democrat’s budget also ignores demographic reality and offers no reform of entitlements.
“The Democrats may need to retire their longstanding mascot, the donkey, in favor of an ostrich, because they are planting their heads firmly in the sand when it comes to the future of this country,” McCrery said. “Everyone knows that the Baby Boomers will soon begin retiring, and that our entitlement system needs reform, but they are offering no plan, no vision – not even suggestions. That is simply irresponsible.”

While this piece didn't make our edition when just went to press. I felt you needed to know what was happening in Washington. This affects Bossier, and every taxpaying citizens of the United States.

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