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Frank Wolf Admits He Supports Trillions in Tax Hikes


Posted by John Kartch on Tuesday, October 4th, 2011, 4:47 PM PERMALINK


Rep. Frank Wolf (R-Va.) is one of only six Republican members of the U.S. House who has failed to sign the Taxpayer Protection Pledge to his constituents.  In his remarks submitted to the Congressional Record today, Wolf confirmed that he supports the recommendations of President Obama’s Bowles-Simpson commission, a net tax increase of $1-3 trillion over ten years.  According to Wolf’s statement:

“I have supported every serious effort to resolve this crisis: the Bowles-Simpson recommendations, the “Gang of Six” effort, and the “Cut, Cap and Balance” bill – including the Balanced Budget Amendment.  None of these solutions were perfect, but they all took the steps necessary to rebuild and protect our economy.”

House Budget Committee Chairman Paul Ryan, who voted against Bowles-Simpson, writes:

“Relative to a current policy baseline, the proposal would increase revenues by $2 trillion over 10 years.”  [“Expanded Views on the Fiscal Commission,” by Paul Ryan, Dec. 4, 2010]

The Heritage Foundation scored Bowles-Simpson as a $3.3 trillion tax increase over ten years:

Overall, the fiscal commission would raise taxes by $3.3 trillion over the decade.”  Heritage also wrote that Bowles-Simpson would be “the highest sustained tax burden in American history.” [“Fiscal Commission Report: Too Much Taxes, Not Enough Spending Cuts,” by Brian Riedl, Dec. 3, 2010]

 

 

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