Pryce Statement on House Subprime Lending Hearings

May 10, 2007

Pryce: Ohioans Cannot Afford Proposed Federal Budget

Washington, DC – Today, Congresswoman Deborah Pryce (R-Columbus) cautioned Democratic leaders about the impending damage their budget will bring upon central Ohioans and our state economy. Pryce issued the following statement as the House and Senate prepare to go to conference on the FY08 Budget Resolution:

“This budget is troubling news for Ohio. By allowing important tax relief to families, businesses and seniors to expire, House Leaders are poised to stifle job creation and smother economic growth in our state. In my district alone, it is estimated that the proposed budget will cost the average Ohio taxpayer $2,894, kill more than 2,305 jobs, and cost our central Ohio economy $232 million.

“Tax policies and burdens are incredibly important factors in determining where businesses locate and if they will succeed or fail. It is not coincidence that Ohio was ranked by the Tax Foundation as having the 5 th heaviest state and local tax burden this year, and ranked 47 th in job creation.

“Taxes matter. They matter to companies that choose to locate in other states because of Ohio’s oppressive tax system, and they matter to the tens of thousands of Ohioans who move to states with lower tax burdens each year.

“I implore House leaders to reconsider their tax plans and renew the tax relief that jumpstarted the national economy, created more than 7 million jobs, and provided for three straight years of economic growth. Ohioans cannot afford their budget.”

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