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|Tax Filing Day|
|News Releases - Business, Economy & Finance|
|Written by Grassley Press|
|Monday, 15 April 2013 15:11|
Monday, April 15, 2013
Senator Chuck Grassley made the following comment on Tax Filing Day, the annual federal income tax deadline.
“Tax Filing Day is a good day to remember that, on average, every American taxpayer works until April 18 – five days later than last year – in order to pay taxes for the year, including federal, state and local taxes, according to the Tax Foundation.
“As Washington continues the budget debate and, I hope, works toward necessary tax reform, it’s also important to remember that raising taxes won’t restore fiscal discipline unless spending is brought under control. The last four years prove it. Dramatic increases in federal spending and tax increases failed to turn around record-level unemployment. The federal debt reached $16 trillion and is projected to top $17 trillion this year. Federal debt now exceeds 100 percent of the gross domestic product and acts as an anchor weighing down our economy. Research shows that when federal debt is more than 90 percent of the gross domestic project, the average rate of growth falls by a full percentage point. High levels of government spending and interest on the national debt take money away from private-sector investments and activity that creates jobs and economic opportunities for individuals and families.
“The problem isn’t that people are taxed too little but that Washington spends too much. America needs pro-growth spending discipline and tax policy.”
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