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Claim That Congressional Budget Plans Call For "Largest Tax Increase in History" Is Inaccurate

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Publication Date: March 2008

Publisher(s): Center on Budget and Policy Priorities (Washington, D.C.)

Special Collection: John D. and Catherine T. MacArthur Foundation

Topic: Banking and finance (Public finance)

Keywords: Economic projections; Tax code; Federal budget; Income diversity

Type: Report

Abstract:

Some are claiming that the budget plans adopted this week by the House and Senate Budget Committees--the full House and Senate are scheduled to consider their respective committee’s plan next week--would constitute “the largest tax increase in history.”  This claim is inaccurate, just as the same claim was inaccurate with regard to the budget resolution the Congress adopted last year.