Claim That House Budget Calls for "Largest Tax Increase in History" Is Inaccurate

Publication Date: March 2007

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

Author(s):

Research Area: Banking and finance

Keywords: Economic projections; Federal budget; Tax code

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.