Washington, D.C. - The largest tax increase in American history is just 70 days away. Unless Congress acts to prevent all of those tax increases, 876,000 jobs could be lost. Heritage Action for America will work with the growing, bipartisan coalition in Congress to reject the Obama Tax Hikes and save those jobs.
According to new research by The Heritage Foundation, allowing taxes to increase on small businesses, families and investments will destroy hundreds of thousands of jobs and empower the government to seize more than $511 billion directly from the American people.
"President Obama's tax increases will undermine our struggling economy," Heritage Action's CEO Michael A. Needham said. "Instead of raising taxes, President Obama and Congress should focus on empowering private sector job creation. Raising taxes will only empower Washington."
Dozens of Congressional Democrats have joined their Republican colleagues in opposing tax increases. In a letter sent to Speaker Nancy Pelosi and Majority Leader Steny Hoyer, 31 Democrats said raising taxes now could "negatively impact economic growth."
"We're pleased to see bipartisan opposition to the tax hikes," Heritage Action CEO Michael A. Needham said. "Members of Congress need to prioritize economic prosperity over big-government spending. Given the economic and political climate, I expect more Democrats to publicly announce their opposition to increasing taxes."
Heritage Action will make sure Members of Congress and their constituents understand the Obama Tax Hikes will destroy local jobs and send more of their money to Washington.
|Avg. Annual Job Losses||Personal Tax Increases
(2011 - 2020)
|United States||693,386||$511.2 billion|
|Senator Harry Reid (NV)||6,018||$4.9 billion|
|Speaker Nancy Pelosi (CA-8)||1,770||$3.1 billion|
With more than 690,000 members across the country, The Heritage Foundation and its sister organization, Heritage Action for America, are committed to building an America where freedom, opportunity, prosperity and a civil society flourish.
For more information, visit heritageforamerica.org/raising-taxes-destroys-jobs