Monday, April 15, 2013
UPDATE: Fleming said after the news conference that Judson wasn’t part of it, but simply was in the room. He didn’t speak at the news conference — not everyone there spoke — but we talked afterward. Ms. Fleming said the other advocates there don’t support any increase in the gas tax and vehicle registration fees. Continue reading
by Chris Hooks, published in The Texas Tribune
With large-scale financing plans for transportation and water in the air, Tea Party activists cracked the whip at a Capitol news conference Monday, strongly criticizing officeholders’ proposals for those and other projects.
Three days after Gov. Rick Perry raised the possibility of a number of new revenue streams for transportation funding, including the issuing of 100-year bonds to pay for road construction, members of Texas Tea Parties gathered to warn legislators about caving on conservative principles. Continue reading
By Romina Coccia and Amy Payne, Published in The Foundry, April 12, 2013
President Obama is marketing his new budget by saying it has “more than $2 in spending cuts for every $1 of new revenue.” Is this true?
In a word, no.
In fact, his spending increases and advertised spending cuts cancel each other out—leaving only a massive tax increase.
The President cancels sequestration’s spending cuts—therefore raising spending—by the same amount that he reduces spending. When that’s done, all that’s left is a $1.1 trillion tax hike.
Here’s the math:
- The President increases spending by $1.1 trillion by cancelling sequestration.Sequestration, the automatic spending cuts adopted in the Budget Control Act of August 2011, is already in effect. Thus, cancelling these reductions in spending increases spending by $1.1 trillion over 10 years.
- The President reduces spending by $1.1 trillion. The President lists a number of additional spending reductions based on a December offer to Speaker of the House John Boehner (R-OH). These total about $1.1 trillion and are completely offset by the cancellation of sequestration.
- The President raises taxes by $1.1 trillion. The official total tax increase in President Obama’s budget is available in the Treasury Department’s “Green Book.” Treasury scores the total net tax increase from all President Obama’s tax policies at more than $1.1 trillion over 10 years.
So President Obama’s spending cut claim doesn’t hold up, and Americans get stuck with a $1.1 trillion tax bill. Real math hurts.
You, your friends, neighbors and family are invited to a co-hosted Tax Day Rally. We are all still Taxed Enough Already — Join us!