For Immediate Release
February 26, 2009 |
|
|
FOR MORE INFORMATION:
Hilarie Chambers
Office: 202.225.4961
|
| |
|
PRESIDENT OBAMA’S BUDGET CONTAINS MORE HONEST AND REALISTIC ACCOUNTING, A VISION TO RESTORE KEY INVESTMENTS TO SHAPE THE FUTURE AND A TAX PACKAGE THAT RESTORES FAIRNESS AND FOCUSES ON MIDDLE CLASS RELIEF |
|
| |
|
| |
|
(Washington D.C.)- Rep. Sander Levin issued the following statement on President Barack Obama’s budget outline, released today:
“Importantly, this budget is a more honest reflection of what the federal government will actually spend because it doesn’t ignore large expenditures like the cost of ongoing military deployments abroad, natural disaster spending, and required changes to the tax code. It also returns to pay-as-you budgeting rules and sets a difficult course to cut the deficit in half by the end of his first term.
“The budget also provides an outline for a much fairer tax system with a focus right where we need it: on middle class tax relief. The income gap has grown to unacceptable levels and the Obama budget begins to address this by extending relief to the middle class, and letting the Bush tax cuts expire for couples making more than a quarter of a million dollars.
“I am also glad to see that like legislation I introduced in the last Congress, the Obama budget ends the carried interest tax advantage. Investment professionals should not be allowed to pay a lower rate of tax on their compensation than other Americans when they are being paid to provide a service managing other people’s money and fairness requires that they be taxed at the rates generally applicable to service income.
“The budget also outlines some very clear priorities: health care, energy and education and makes needed investments in our roads, our communities and in manufacturing support programs that have been curtailed in recent years. The budget also begins to fulfill President Obama’s promise to help restore the Great Lakes including a new $475 million inter-agency initiative to accelerate restoration of the Great Lakes.
And, before Republicans begin to talk about tax policy during a recession they should review the budget tables that illustrate when proposals are implemented.
“These are difficult economic times. This budget blueprint, after the much needed Economic Recovery and Reinvestment Act, sets out the right priorities for restoring economic confidence and growing our economy.”
(####)
|
|
|
|
To Contact Congressman Levin: -
Email Congressman Levin In Michigan: 27085 Gratiot Ave, Roseville, MI 48066 | (586) 498-7122 | (248) 968-2025
In Washington: 1236 Longworth House Office Building, Washington, DC 20515 | (202) 225-4961
