SENATOR GREGG: AMERICA CAN’T AFFORD THIS BUDGET

Wednesday, June 4, 2008                                            Contact: Andrea Wuebker/Laena Fallon

SENATOR GREGG: AMERICA CAN’T AFFORD THIS BUDGET

WASHINGTON – U.S. Senator Judd Gregg (R-NH), ranking member of the Senate Budget Committee, today reacted to the U.S. Senate’s final passage of the fiscal year 2009 budget resolution conference report.

“For the second year in a row, the Democratic majority has crafted and passed a tax-and-spend budget – one that most Americans can’t afford as they struggle with a slowing economy and rising food and fuel costs,” said Senator Gregg.

“The Democratic budget passed today in the Senate includes the largest tax increase in history, passes the $1 trillion mark in annual discretionary spending, and continues to ignore the pressing issue of $66 trillion in unfunded entitlement obligations we will otherwise pass on to our children.

“For average Americans, this budget means that 43 million families with children will owe $2,300 more in taxes; 18 million seniors will owe $2,200 more; 27 million small business-owners will owe $4,100 more; and 7.8 million low-income workers will be added back to the tax rolls.

“The Democrats’ big-government budget is clearly a disappointment, and shows a lack of awareness of the financial challenges already squeezing American families and businesses. I will continue to work to lessen the tax burden on hard-working taxpayers, address our long-term fiscal obligations and better position the economy to rebound.”