The Leader's Ledger

Posted by Jessica Straus on

Good Morning –

In the midst of proposing his latest tax hike on small businesses and families, the President offered a bit a wisdom: “Most people agree that we should not raise taxes on middle-class families or small businesses, not when so many folks are just trying to get by.” The reality is the President’s signature legislative achievement, ObamaCare, is a tax on the middle class and that’s how the majority of Americans see it. That’s why the House acted to repeal ObamaCare yesterday to give American families and small businesses the certainty they won’t face more taxes, higher health care costs, and Washington dictating their health care decisions. As Leader Cantor said yesterday, the American people want patient-centered care and “the first step towards getting back there is to repeal Obamacare.” In the weeks ahead, the House will continue to act to stop taxes from going up on American families and small businesses.

Today in History: In 1862, President Lincoln signed into law the Medal of Honor for the U.S. Army, for those who risk their lives and distinguish themselves in battle. Nearly 3,400 men and one woman have received the Medal since its creation.

Birthdays: Debbie Keller, Cheryl Ladd, Richard Simmons, Bill Cosby, and Kristi Yamaguchi

Here Are the Top Stories We’re Watching:

1. Tax Debate: Leader Cantor: Now Is Not The Time To Raise Taxes On Anyone. In a couple of weeks from now, this month, we're going to bring forward a bill which will make sure taxes don't go up on anyone. So we're going to stop the tax hike. We also are going to provide for a one-year extension of existing rates so that we can then engage in tax reform the way that Mitt Romney is talking about doing. All of us, we want to simplify the code, we want to bring down rates for everybody. At the same time, the Democrats will have the ability to bring forward President Obama's tax plan. If they feel that that's the way forward for this country, raising taxes on small businesses in this anemic economy, they'll have the opportunity to bring that forward…We don't believe that now is the right time to raise taxes. Number one, we have a terrible economy, we need to be creating jobs. Taxing job creators is not smart. In addition to that, the runaway spending here in this town has not been brought under control. So if we're raising, taxes with that being the fact, you're just digging the hole deeper. CNBC

2. Dem Divide: Leader Reid Blocks Vote On President’s Tax Hikes Amid Dem Defections On Tax Policy. Senate Majority Leader Harry Reid (D-Nev.) on Wednesday rejected a Republican request to vote on President Obama’s income tax plan amid defections within his caucus on tax policy…Sen. Orrin Hatch (Utah), the senior Republican on the Finance Committee, accused Democrats of filibustering the president’s tax plan. “They are filibustering their own bill. So what does that tell us? Here’s what it tells us. It tells us that the president’s tax increase plan is not just an economic disaster; it is a political loser,” Hatch said…Senate Democratic leaders are worried about potential defections within their caucus on taxes. At least seven Democratic senators have declined to rule out supporting a temporary extension of the Bush-era income tax rates. Several Senate Democrats running for reelection and Democratic Senate candidates have balked at Obama’s proposal to extend income tax rates only for families earning below $250,000. Sen. Bill Nelson (D-Fla.) and North Dakota Senate candidate Heidi Heitkamp have said the threshold should be $1 million. Former Virginia Gov. Tim Kaine (D), who is running for the Senate, prefers setting it at $500,000. Sen. Claire McCaskill (D-Mo.) has also said she would not rule out extending all of the Bush tax rates temporarily. Sen. Robert Menendez (D-N.J.) told NJ Today that he disagrees with Obama’s plan to allow tax rates to increase for families earning over $250,000. The Hill

3. Repeal ObamaCare: Leader Cantor: The American People Have Demonstrated They Don’t Like ObamaCare. The America people have demonstrated again and again they don't like ObamaCare. Principally, because, first, the president promised that if you have health care in this country and you like it, you can keep it. Well, we all see the facts now, and more and more employers are beginning to stop offering coverage. Individual costs have gone up significantly since the ObamaCare bill has passed itself. And the fact is because of the rising costs, people are not going to be able to have the health care they like. So that's number one. Number two, ObamaCare’s model is Washington dictates to you what kind of health care coverage you can have. That is not the American way. We want patient-centered care. That's what the American people want. So today, what we've said is the first step towards getting back there is to repeal ObamaCare. CNBC

4. Broken Promises: Whip McCarthy On The President’s Broken Promises Of ObamaCare. “House Republicans have numerous health care solutions but we are not going to make the same mistake ObamaCare made. Let’s listen to the American people. Let’s not ram something down their throat…ObamaCare is filled with promises and they are all broken. The President said it wouldn’t add a dime to the deficit. That’s not true. He said if you like your current health care plan, you can keep it. That’s not true. He said it wasn’t a tax. That’s not true. This is promises made, promises broken.” Fox News

5. Health Care Poll: Most Americans Think ObamaCare Is A Tax. A new Quinnipiac University poll shows why Barack Obama has been so reluctant to talk about his health care plan this summer. 55% of voters say ObamaCare is a tax, while only 36% say it's not. That's a nearly 20% gap and a huge political liability…Voters think Congress should repeal the law, 49%-43%... A surprisingly high 40% of Hispanics want Congress to repeal the measure. Healthcare is still a top issue to Hispanics, and this is a pretty big repeal number. Indies want repeal, 49%-41%. Even though most voters want the law repealed, they nevertheless support the Supreme Court's decision on its constitutionality, 48%-45%. That shows the Supreme Court's relatively strong image in the eyes of many Americans, but even more profoundly, it shows just how unpopular ObamaCare is, considering that voters are turning to Congress (which they hate) for a resolution…Now here's the money stat: 27% of indies say it'll make them less likely to vote for Obama, while only 9% say it will make them more likely. Gender gap on the mandate. 50% of women support a health insurance mandate, while 50% of men oppose it. HUGE margins think ObamaCare is a tax. 55% say it's a tax, while only 36% say it's not. That gap widens when independents are asked. 59% of indies think it's a tax, and 22% say it's not…Interestingly, Hispanics think it's a tax by 60%/29%, which is an even higher margin than among whites. The Hill

6. Obamanomics: President Obama’s Tax Hypocrisy. President Obama promised never to raise taxes on the middle class, but he already has. The Supreme Court called the money Americans will owe the Internal Revenue Service if they fail to buy government-mandated health insurance in ObamaCare a “tax.” Democrats think they can scam the American people by calling it a “penalty.” Republicans are making sure nobody falls for it…Approximately 20 million Americans will either pay the tax or be forced to buy insurance they otherwise wouldn’t have purchased. The Congressional Budget Office predicts that 4 million people will pay the tax rather than be forced into coverage. The cost will be $695 per person or 2.5 percent of family income, whichever is greater…Like all taxes, those in the president’s health care plan make the government bigger and give it more control over our lives. Mr. Obama does not have the credibility on the tax issue so long as ObamaCare is the law of the land. The Washington Times

7. Small Biz: What ObamaCare Means For Small Business: Costs Going Up, Hiring Incentives Down. Business owners with between 30 and 50 workers will be subject to fees of $2,000 per worker, per-year, for failing to offer employees health insurance, Keating said. There is much emphasis on businesses with fewer than 50 workers, however, those businesses with 29 workers and less will be the only truly “exempt” group when it comes to fees, Keating said. The impact of this law may discourage companies from adding additional workers and reaching that 30-employee level, where fees kick in, he said. “Firms will make growth decisions based on how many employees they have, not surprisingly. That is an impediment to expansion and growth,” Keating said. Insurance can typically cost up to $4,000 per-worker, per-year for a small company, Litan said, so many small businesses in this group may opt to pay the $2,000 penalty per-worker annually rather than offer coverage. “Presumably there will be a big chunk of employers that won’t buy [coverage] for workers,” he said. Fox Business

8. The Road Ahead: Leader Cantor On The Huckabee Report: There Are Two Very Different Visions For The Way Forward. “It’s unfortunate that you’re not seeing more courage on the part of so many democrats in Congress to stand up for what their constituents believe and want. But I think the whole debate around the repeal of ObamaCare brings into question really what this election is going to be about in November. It is very much about the direction the country is heading – whether it’s your health care, whether it’s your future economic prosperity, your family’s economic security. There is a real question whether you want government controlling those decisions for you or not. And if you want more government, if you want a kind of health care that is foreign to most of us, then you’re going to elect the status quo. But I think what we’re seeing across the country, so many Americans are asking how in the world did we get here, and let’s reclaim America so we can get back on track.” The Huckabee Report

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