Turn Off That Light Before Congress Taxes You!

Last month, President Obama released his proposal for the 2010 federal budget.  At a whopping price tag of $3.5 trillion, the President’s announcement was shocking to the senses.

Most troublesome is the massive tax increase his budget unveils- $1.4 trillion tax hike over the next ten years.  This is the largest tax increase in American history.  In addition to bringing back the death tax and capping the taxable deductions for charitable giving- which will reduce charitable giving by $9 billion a year- the President’s budget institutes a $646 billion cap-and-trade energy tax.  A cap-and-trade energy tax levies a tax on oil, coal, and natural gas companies, which is then passed down to consumers in the form of higher energy prices.  So while the President promised to cut taxes for the middle class during his campaign, this immense tax hike will affect anyone who wants to be cool in the summer or warm in the winter, who drives a car, or turns on a light switch.  In fact, it is estimated that the cap-and-trade tax will cost each American household up to $3,128 a year in higher costs for energy.

This enormous tax hike will be particularly harsh on American farmers and ranchers.  There are very few industries that are as energy intensive as agriculture.  It requires large amounts of fuel to run a farm and farms also put out more emissions.  This tax will make the cost of farming more expensive than it already is, forcing some farmers to switch professions.  If this administration continues to shift its focus from production agriculture to food consumption, I think they will find that it will drive this country to become as dependant on foreign food as we are on foreign crude oil    

It is irresponsible to raise taxes on the American people and American small businesses during a recession.  I look forward to working with my colleagues through the budget process and will continue to be a strong voice opposed to this tax hike.