Leader Cantor Statement on Democrats' Plan to Hike Taxes

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Washington, D.C. – House Majority Leader Eric Cantor (R-VA) today issued the following statement regarding press reports that Senate Democrats’ plan to raise taxes to offset spending:

“After 40 days of stalling on the need to cut spending, Senate Democrats have finally called the only play they know to finance their out-of-control spending: raising taxes on the American people. Not only is this a terrible move in the current economic environment, but it speaks to the Democrat agenda to keep spending money to support big-government programs and overreach on the backs of American taxpayers. The total revenue that currently comes into the federal coffers through individual and corporate taxes is just over a trillion dollars, while America’s expected deficit for this year is $1.6 trillion and our debt is more than $14 trillion. In order to address our debt crisis, Democrats would have to more than double taxes on families and businesses throughout the country. It’s time for Democrats to do what the American people are doing and tighten the belt, not raise taxes. I call upon Leader Reid and Senator Schumer to rule out raising taxes in our current economy.”
 

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