Griffin: Senate Plan Finds ‘Hundreds of Billions’ in Revenue But ‘Still Adds Billions’ in New Spending to the Deficit
WASHINGTON – Congressman Tim Griffin (AR-02), who has been selected to serve on the House Ways and Means Committee, issued the following statement after voting against passage of the Senate Amendment to the House’s American Taxpayer Relief Act of 2012 (H.R. 8):
“After five months of sitting on the House’s tax relief bill (H.R. 8), the Senate finally amended the bill and returned it to the House early this morning. The Senate bill increases revenue to the treasury by hundreds of billions of dollars but still adds billions of dollars in new spending to our ballooning deficit. That’s unacceptable and a far cry from the President’s so-called ‘balanced approach.’ Unfortunately, in Washington tax increases are effective immediately and spending cuts are postponed indefinitely.
“I have always been an advocate for lower taxes for all Arkansans, and that’s why I supported H.R. 8 on August 1, 2012, which would have extended the Bush tax cuts for all Americans. While there are some positive aspects to the Senate version of this legislation, including the permanent extension of those tax cuts for most Americans, we must stop our out-of-control spending and piling more debt on the heads of our children and grandchildren. I have supported every single major bipartisan agreement proposed by the President, the Senate Majority Leader and House Speaker since I was elected, but this one is a bridge too far.”