[Congressional Record Volume 156, Number 111 (Tuesday, July 27, 2010)]
[House]
[Pages H6047-H6048]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  1010
             WE MUST FIGHT AGAINST THE COMING TAX INCREASES

  (Mr. SMITH of Nebraska asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. SMITH of Nebraska. The update of the President's budget estimates 
released Friday shows Washington still has not gotten the message. 
Dangerous economic and fiscal policies are not helping our country. 
They're resulting in deficit, debt, and an economy which continues to 
struggle.
  Now after 18 months of government takeovers, Congress is positioned 
to allow the largest tax increase in history on American families and 
small businesses to take effect next year. January 1, 2011, every 
single tax bracket will increase. That means if a small business in 
Grand Island, Nebraska, paid 35 percent in Federal taxes this year, 
next year it will have to pay nearly 40 percent. When Times Square 
celebrates a new year, Americans who own a farm or ranch will see death 
taxes rise from 0 to 55 percent.
  We cannot tax and spend our way back to a healthy economy. I urge my 
colleagues to join me against any tax increase on working families, 
small businesses, and farmers and ranchers before they wake up on 
January 1 to a brave new world.

[[Page H6048]]



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