Reed Reacts to Majority Leader’s Remarks on Raising Taxes; Demads a Common Sense Approach to Spending: “If We Don't Have it, We Don't Spend it”

FOR IMMEDIATE RELEASE

Congressional candidate Tom Reed is calling recent remarks by House Majority Leader Steny Hoyer
regarding raising taxes on families making less than $250,000 “surprising” and “out of touch.” On Tuesday,
Hoyer told a forum in Washington that permanent tax cuts for the middle and lower classes may not be
possible given the growing deficit.

“The Majority Leader’s remarks surprised me,” Reed said. “Not in that the Washington leadership is finally
publicly recognizing that the current ways of spending more than we have cannot go on, but in that they
believe higher taxes must be part of the solution. How far out of touch can they be?”

“We have to stop living beyond our means,” Reed commented. “After borrowing more than $800 billion
for stimulus spending, committing untold trillions to ObamaCare, and a $410 billion increase in non-
defense discretionary spending, they are finally realizing this can’t go on.”

“However, the tax cuts made by the last administration must remain in place,” Reed said. If the tax cuts are
allowed to expire, ALL Americans who pay income tax will see tax increases with the lowest tax bracket
getting the highest increase (10% to 15%). “That absolutely cannot happen if the economy is to recover,”
Reed observed.

As the House works on the 2011 budget without any voice from the 29 th District, Reed proposed four
principles to begin addressing the worsening national finances:

1. Enact a hard cap enacted on all non-defense discretionary spending for 2011.
2. Balance any proposed 2011 emergency spending increases by reducing other government spending.
3. Continue the tax cuts for the middle and lower classes, which can least afford to pay for the government’s trillion dollar deficits.
4. Hold all tax and budget related votes before Election Day, not during the “lame duck” session between Election Day and Dec. 31.

“As simple as it sounds, I demand a common sense approach to spending,” Reed said. “Just like your family
and mine lives every day: if we don’t have it, we don’t spend it.”

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