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On behalf of nearly 850,000 FreedomWorks members nationwide, I write to urge you to VOTE YES on the GOP FY2008 Budget Alternative, introduced by Budget Committee Ranking Member Paul Ryan of Wisconsin.
As you know, the Democrat majority has offered a budget that if passed will lead to a $400 billion tax increase over the next 5 years. This shift away from common sense budget restraint would mark the largest tax increase in U.S. history. This budget allows current tax cuts to expire by 2010, amounting to a tax increase, and would not extend AMT tax relief even for a one year patch. Included in their litany of tax hikes are $13 billion in Marriage Penalties, $91 billion in Death Taxes, and $27 billion as a result of a 50% reduction of the Child Tax Credit.
In addition to ever increasing taxes and spending, this budget proposal does nothing to address the need for entitlement reform.
The GOP FY2008 Budget Alternative would bring restraint and accountability back to the budget process by balancing the budget by 2012 without the need for any tax increases. It would retain the provisions of the tax laws set in 2001 and 2003 by extending AMT relief one year and not rolling back Death Tax relief, Child Tax Credits or increasing rates on capital gains and dividend taxes. This proposal will also end the raid on Social Security and not leave the task of entitlement reform to future generations.
FreedomWorks urges your support for the GOP FY2008 Budget Alternative. This substitute is a good step towards fixing the broken budget process by reining in runaway spending and offering accountability and entitlement reform. FreedomWorks will count your vote as a KEY VOTE when calculating the FreedomWorks Economic Scorecard for 2007. The FreedomWorks Economic Scorecard is used to determine eligibility for the Jefferson Award, which recognizes members of Congress with voting records that support economic freedom.
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