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   CARDIN WARNS THAT BUSH TAX CUT WILL HURT

WARNING:

CARDIN WARNS THAT BUSH TAX CUT WILL HURT

By Benjamin L. Cardin,
D-U.S. Congress, 3rd District

WASHINGTON - U.S. Rep. Benjamin L. Cardin today warned Marylanders that the $550 billion tax cut being considered this week by the House of Representatives will hurt Marylanders and exacerbate an already serious state budget crisis.

The Congressman, a member of the House Ways and Means Committee which is considering the Bush tax cut today, said that "the President's tax cut is about priorities. If you look at it on a per capita basis, a $550 billion tax cut over 10 years translates into $10 billion less for a state like Maryland. There is no doubt that a tax cut of that magnitude will seriously impact programs Marylanders care about such as Medicaid, education, and efforts to help clean up the Bay."

According to the Congressman, the economic recovery is tied to job creation, not tax cuts. He pointed out that "a nation in debt and at war will not create jobs by borrowing additional money to give a tax cut."

Rep. Cardin cited last weeks Department of Labor's report that the economy had lost 48,000 jobs in April and a total of 525,000 jobs over the last three months. The Congressman, the leading Democrat on the Human Resources Subcommittee, has proposed legislation to extend unemployment benefits for all dislocated workers.

"The most effective way to stimulate the economy is to put money into the hands of the states. Right now the majority of states are facing serious budget deficits similar to Maryland's. These budget shortfalls are causing serious cuts to Medicaid, child care, and will end up impacting every state-supported program, including education and the environment. The President's tax cut will only make matters much, much worse," said the Congressman.


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This story was published on May 13, 2003.
  
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