WASHINGTON – House Democratic Whip Steny Hoyer released the following statement in response to news reports that Republicans are close to a deal on a tax package:
“Whether House and Senate Republicans agree on a tax plan that costs $350 billion or $550 billion is completely irrelevant. The real question is whether or not the GOP plan will create jobs and jumpstart our sagging economy? It will not. The real question is whether the GOP plan disproportionately benefits the most affluent and robs the Social Security surplus of every dime over the next decade? It does. The real question is whether the GOP plan will only drive our nation further into debt? It will.
It should be increasingly clear to the American people that the Bush Administration and Congressional Republicans have no economic policy whatsoever. With the loss of 2.7 million private-sector jobs since President Bush was inaugurated, with a projected record budget deficit this year, with our nation facing the undetermined costs of the war on terrorism and the on-going military action in Iraq, the GOP has proposed more of the same failed tax cuts that put us in this predicament in the first place. That is not an economic policy; it is a recipe for disaster.
Democrats have a plan that would help put America back to work without spending Social Security and leaving enough money to fight the war on terrorism, educate our children and improve our health care system. While Democrats are working to help the hard-working families who live on Main Street, the GOP seems obsessed with showering unaffordable tax cuts on the fortunate few who live on Easy Street.”