Hatch Slams President’s Renewed Call for Tax Hikes on American Job Creators

WASHINGTON – U.S. Senator Orrin Hatch (R-Utah), Ranking Member of the Senate Finance Committee, today slammed President Obama for renewing his call to increase taxes to address the nation’s debt fueled spending crisis. Hatch issued the following statement:

“With a fragile economy, tax hikes on our job-creators in the name of debt reduction is bad policy, especially since our debt crisis is fueled by unsustainable spending.  We’ve seen this before.  Back in 1990, a grand deficit reduction plan that included spending cuts and tax increases was passed.  Almost as soon as the ink was dry, the spending shot back up and so too did our deficits. 

“This is why we have to focus on the spending side of the ledger and why it’s imperative that we fix our bankrupt entitlements that are driving our debt.  If we want to make sure we never wrack up this level of debt, we have to pass a Balanced Budget Amendment to the constitution.  If we don’t then we’ll be right back where we are today with unsustainable levels of debt that no manner of tax hike can ever solve.”

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