Your children could be paying double the rate in taxes paid by today’s American workers in ten years but Republicans want to stop this trend in its tracks.
The latest effort to restore fiscal responsibility comes in the form of a Spending Limit Constitutional Amendment. The Republican Study Committee (RSC) is targeting out of control federal spending in order to equalize federal government spending with national economic growth.
Their goal is to decrease the burden on American families, so that the budget does not increase more than the collective incomes of those families. RSC members at a press conference yesterday spoke passionately of constituent families in their districts who are in real distress due to tax hikes that rob them of hard-earned pay.
Rep. Scott Garrett (R-NJ) said in the past 15 months, the Democrat Congress has “done nothing to reign in spending.”
The RSC chose Tax Day to introduce the proposed amendment to punctuate the importance of lower taxes and decreased federal spending on entitlement programs and other excessive spending agendas.
“Today’s decision will affect tomorrow’s destiny,” Rep. Paul Ryan (R-Wis.). “We are the cusp of a budget crisis…and we want the next generation to inherit a prosperous America.”
About ten members of the RSC represented the amendment at the press conference, including earmark reform leader Jeff Flake (R-Ariz.) and RSC Chairman Jeb Hensarling (R-Tex.).
Hensarling reminded listeners that “as bad as Republicans are, Democrats are a thousand times worse,” not only on spending but by raising taxes every time they can. He said there are many budgetary concerns on the agenda but all “pale in comparison” to the “greater concern” for a “future where our children have their taxes doubled.”
With a Democrat Congress in control for the past two years, keeping taxes and spending in check has been difficult and with so many Republicans retiring, the majority will likely remain Democrat in 2008. The Spending Limit Amendment will specifically monitor Congress’ overspending and could be the essential piece of legislation to stop the taxing spree for the next generation.
Rep. Tom Feeney (R-Fla.) posed the question many are asking: Why must this rise to the level of a constitutional amendment?
RSC members agreed that federal spending has become so ridiculous that dramatic action must be invoked. The amendment, described as “simple and straightforward” by Rep. Phil Gingrey (R-Ga.), bars federal spending from exceeding 20% of GDP.
The plan is now set to provide 19.3% of GDP over a 10-year budget window, lending a little leeway.
Rep. Michelle Bachman (R-Minn.) said Republicans must “tell government you have to live within your means” and that this amendment is a “lifeline to the American people.”
The RSC members agreed that the amendment would be a tremendous step forward for the Republican Party and for the American people overall. Idaho Rep. Bill Sali (R) called it “go[ing] back to the vision of the Founding Fathers” by implementing necessary “restraint.”
There are currently 25 co-sponsors of the Amendment in Congress but according to RSC Communications Director Brad Dayspring, they are “quickly adding to that.”
At the time of press conference, Hensarling said he did not know if there was a Senate effort to move the Amendment forward.