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Statement: Claim That Congressional Budget Calls for "Largest Tax Increase in History" Is Inaccurate
Publication Date: May 2007
Publisher(s): Center on Budget and Policy Priorities (Washington, D.C.)
Author(s): Robert Greenstein
Special Collection: John D. and Catherine T. MacArthur Foundation
Topic: Banking and finance (Public finance)
Keywords: Tax code; Federal budget; Economic projections
Type: Report
Abstract:
Some claim that the budget plan from the House and Senate Budget Committee conferees, which the Congress plans to vote on shortly, would constitute “the largest tax increase in history.” That is incorrect. The budget plan does not include a tax increase. If anything, it assumes that Congress will set aside rules enforcing budget discipline and actually cut taxes.