March 17, 2015 05:09 PM | Permalink |
For Immediate Release: Tuesday, March 17, 2015
Contact: Jenice R. Robinson, 202.299.1066 x 29, Jenice@ctj.org
Following is a statement by Robert McIntyre, director of Citizens for Tax Justice, regarding the House Budget proposal for fiscal year 2016 released today.
“The House leadership’s budget (A Balanced Budget for a Strong America) once again demonstrates some of our lawmakers value rhetoric over substance. The blueprint is astonishingly vague on vital tax reform questions. The plan calls for reducing tax rates and eliminating special interest loopholes but is silent on how to achieve the tax reform that both parties agree is vital.
“At the same time, the blueprint is quite specific about two new budget-busting tax cuts for the best-off Americans. The plan would repeal tax increases enacted to pay for health care reform and the Alternative Minimum Tax. These new cuts would blow a trillion-dollar hole in the federal budget over 10 years, with little or no benefit for middle- and low-income families.
“Most worrisome, the plan would allow valuable temporary expansions of two tax credits for working families to expire. Reducing the Earned Income Tax Credit and Child Tax Credit, as the plan appears to do, would push low-income working families further into poverty.”