Sunday, May 11, 2014

Wisconsin Representatives Vote to increase Deficits by $156 Billion with more unpaid for Tax Cuts.

Remember during the Bush years how the Republican congress spent like drunken sailors? Well ask any Republican now and you'll find out that they were always against what happened.

Nice try guys, but that's complete BS.

From a recent Roll Call vote, Republicans still want to spending money they don't have by running up our deficit by another $156 billion in the next 11 years. But this is "good spending," because it's another business tax cut, and it's revenue derived by penalizing success. They're back folks, and even funnier, the Democrats were able to turn the tables on these supposed "fiscal conservatives."
BUSINESS TAX CREDITS: The House passed a Republican-drafted bill (HR 4438) to expand the research-and-development tax credit for businesses and make it permanent instead of subject to periodic renewal as it is now. The bill would increase annual deficits by a total of $156 billion over its first 11 years, according to the Joint Committee on Taxation. In part, the bill would expand the share of a company’s expenses eligible for the credit and raise the credit from 14 percent to 20 percent of eligible expenses. Tax credits are a dollar-for-dollar reduction in taxes owed.
Voting yes to higher deficits were Paul Ryan, Jim Sensenbrenner, Tom Petri and Reid Ribble.

Democratic Responsibility: The Democrats didn't let this glaring showcase of irresponsibility go unnoticed:
PAY-AS-YOU-GO REQUIREMENT: The House defeated a Democratic motion to delay enactment of HR 4438 (above) until such time as its cost to the Treasury has been offset elsewhere in the federal budget rather than added to the national debt. Because it lacks an offset, the bill is projected to generate deficits of $156 billion through 2024.
Voting no to pay-as-you-go, and yes to bigger deficits were Ryan, Sensenbrenner, Petri, and Ribble.

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