Senate Budget Chair’s Memo Hopes for Tax Hikes up to $1.2 Trillion
Senate Budget Committee chairwoman Sen. Patty Murray (D-WA) has circulated a memo to her Democratic colleagues indicating she desires a massive tax increase in her upcoming budget.
The memo, originally authored in January and since obtained by Breitbart News, indicates on page three that Murray agrees with a spending cut to tax hike ratio of 1:1. She also believes we have to cut approximately $2.4 trillion over the next decade. That means a tax hike of another $1.2 trillion.
“These bipartisan frameworks include significant new revenue and have far more balance between spending cuts and revenue increases than the deficit reduction measures we’ve enacted to date,” the memo reads. “For instance, the President’s Fiscal Commission and the Senate’s Gang of Six each proposed roughly $4.8 trillion in deficit reduction over the 2012-2021 period, with over $2 trillion coming in the form of new revenue. Excluding the interest savings of roughly $800 billion, the two bipartisan efforts proposed a roughly 1:1 ratio of spending and revenue savings.”