Washington, Jan 1 – Iowa Congressman Tom Latham issued the following statement today after voting against the Senate-amended H.R. 8, a last-minute tax compromise bill that fails to address the nation’s out-of-control spending:
“The White House-Senate compromise contains some good provisions I agree with, such as preventing massive tax hikes on most families and finally making the cuts permanent, extending the farm bill, and maintaining the wind energy tax credit. However, it lacks a critical component: necessary spending cuts to address our exploding debt. Our $3.5 trillion budget is and will continue to be our primary fiscal obstacle, and a bill that increases taxes and fails to even begin to address spending decisions is not the action American taxpayers have asked for.
“In recent weeks, House Republicans put forth revenue increases as part of a balanced plan that would also tackle Washington’s out-of-control spending. Instead of responding in-kind, the President and Senate leadership focused on tax hikes as the centerpiece of any potential deal, and in so doing, they abandoned the historic opportunity to take on deficit reduction in a serious manner.
“Because the final legislation asked everything of taxpayers while not forcing Washington to even begin a single step toward curbing its spending addiction, I cannot support it.”
