June 21, 2012
Heritage Foundation research and analysis on Taxmageddon, the massive $494 billion tax hike coming January 1, is making an impact in Washington.
How do we know? Because the Washington Post reports that Congressional leaders are relying on it to make the case for preventing the tax increase:
In an e-mail Monday afternoon, House Speaker John Boehner’s office explained that, according to the Heritage Foundation, “Millennials will be hit with an average hike of $1,099” if the Bush tax cuts expire.
Taxmageddon is already causing problems. Heritage’s Curtis Dubay reports that the looming tax hike is already slowing the economy:
The uncertainty caused by Taxmageddon—the one-year $494 billion tax increase that looms on January 1, 2013—is strong enough to slow the economy months before it actually strikes. In fact, it is already doing so.
Where have you seen Heritage’s Taxmageddon research in the media?