Tonight, the House considered and passed H.R. 8, by a vote of 257-167, which allows taxes to rise while eliminating spending cuts set to go into law today. I voted “No”.
The legislation increased the estate tax, increased the payroll/social security tax on all wage earners, and let some marginal tax rates increase. The bill also increased spending and created trillions in additional debt obligations that will soon be followed by demands for a debt limit increase.
I believe government overspending will not be cured by sending more tax dollars to Washington, DC. I could not support legislation that raised taxes without cutting spending and solving the debt crisis that plagues our nation.
Many of you have shared your thoughts on this legislation and I’m truly appreciative of the ideas and passionate concerns our community has about the fiscal health of our nation. I look forward to working with members of both political parties as we work towards constructive solutions to our challenges in the coming new year.