Capito Says Final Budget Plan is No Better than First

Press Release

Capito Says Final Budget Plan is No Better than First

Saying that at the very best it represents the second largest tax increase in American history, Rep. Shelley Moore Capito today denounced the budget conference report approved by the House.

"This budget blueprint is no better than the first budget attempt in March, and it is nowhere near good enough for our hardworking taxpayers," said Rep. Capito. "This budget sets off a vicious cycle of higher taxes and higher spending which will ultimately lead to even more tax increases."

The budget conference report will raise taxes by at least $217 billion - the second largest tax increase in American history. It also includes a "trigger" that could nearly double the size of the tax hike if budget surpluses do not materialize, meaning that if Congress spends too much, a tax trigger will automatically raise taxes even higher. The trigger would bring the tax increase back to the original $400 billion passed by the House in March, a level that represented the largest tax increase in American history.

In addition to laying the ground work for a massive tax increase, the conference report increases non-defense discretionary spending by $23 billion over last year's spending level.

After the House and Senate passed their respective budgets earlier this year, the two bodies met to reconcile budget differences. The budget conference report approved today was the product of that compromise. The report now awaits Senate action.

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