Washingotn, D.C. —
The Senate today accepted an amendment to the Fiscal Year 2008 Budget Resolution, offered by Senator John Thune, which would require 60 votes in the Senate in order to pass any legislation that raises taxes on family farmers, family ranchers, or small businesses.
The Democrats' proposed budget includes a tax hike of more than $700 billion-three times larger than the biggest tax hike in U.S. history, passed by President Bill Clinton in 1993.
"My amendment is a necessary modification to the Democrat Budget Resolution, which shockingly proposes the largest tax hike in U.S. history," Thune said.
"At a time when the farm economy in South Dakota has been burdened by six successive years of drought, the last thing our agriculture producers and small businesses need is a burdensome tax increase. I'm glad my amendment to protect South Dakota farmers, ranchers, and small businesses from a future tax increase was accepted, but Senate Democrats have a long way to go in improving their Budget Resolution so it doesn't burden taxpayers and slow economic growth."
The Democrats' proposed budget includes a tax hike of more than $700 billion-three times larger than the biggest tax hike in U.S. history, passed by President Bill Clinton in 1993.
"My amendment is a necessary modification to the Democrat Budget Resolution, which shockingly proposes the largest tax hike in U.S. history," Thune said.
"At a time when the farm economy in South Dakota has been burdened by six successive years of drought, the last thing our agriculture producers and small businesses need is a burdensome tax increase. I'm glad my amendment to protect South Dakota farmers, ranchers, and small businesses from a future tax increase was accepted, but Senate Democrats have a long way to go in improving their Budget Resolution so it doesn't burden taxpayers and slow economic growth."