John Thune

Different versions of the Democrats’ budget have passed both the House and Senate. Negotiators from each chamber are now working out the differences and crafting a final bill that will be voted on again. The Democrats’ budget spends too much, taxes too much, and borrows too much.

Senator John Thune is leading the fight against President Obama’s budget plan. Senator Thune introduced two amendments to the budget bill that were passed by the Senate. One amendment prevents the Administration from implementing “cap and trade” plans that would increase electricity rates for all Americans by as much as 41%. The other amendment protects the tax deductions for charitable giving which President Obama and the Democrats are trying to reduce in order to increase government tax revenue. While the Senate approved those amendments, there is no guarantee that those provisions will remain in the bill negotiated by the House and Senate Democrats who’re working out differences in the two bills.

Senator Thune will oppose final passage of the budget bill.

The Facts:

• President Obama and Congressional Democrats are trying to add nearly $1 trillion in new taxes on the American people.
  
• The Obama budget would reduce deductions for charitable giving and mortgage interest.
  
• If passed, the Democrats' budget would pave the way for higher investment taxes – at a time when many Americans have watched much of their savings disappear.
  
• The Obama budget would add new taxes on offshore oil drilling, reducing incentives for domestic energy production.
  
• The Democrats’ plan includes a new “cap and trade” tax system that would increase utility rates by as much as $3,000 per year for every American family.
  
• This budget will increase federal spending by more than $1 trillion.
  
• This budget averages deficits of $600 billion, and that figure counts on an economic recovery and the end of the war in Iraq.