Obama’s Final Budget Calls for $2.1 Trillion Tax Hike

Posted by John Kartch on Friday, March 25th, 2016, 2:21 PM PERMALINK

President Obama’s final budget calls for a $2.1 trillion tax increase on the American people, according to a newly released report from the Joint Committee on Taxation. The $2.1 trillion is the net tax increase amount for the years 2016 – 2026.

“The eight years of the Obama administration have been one long Seinfeld episode with absolutely no learning,” said Grover Norquist, president of Americans for Tax Reform. “He came in spending and taxing and he leaves with the threat of another $2 trillion in higher taxes.”

Among the dozens of tax increases is a $273 billion “oil fee” that the Obama administration admits will be paid by every American at the pump.

“As he departs, Obama once again breaks his campaign promise would not raise any form of taxes on the middle class," said Norquist. "His threatened gas tax will hit all Americans. As did seven of the taxes in Obamacare.”