Congressman Boustany Paints Bleak Financial Picture
7th District Congressman Charles Boustany joined 'Mornings With Ken and Bernie' today from Washington D.C.. We asked Congressman Boustany to the explain the "financial cliff" we've heard so much about. Boustany said,
It's pretty simple actually. Starting December 31st at midnight a bunch of tax provisions expire and everybody's tax rates go up. Basically we go back to the Clinton era tax rates. Which means in the top bracket you go from 35% to 39.6%. Plus you add some Obamacare taxes on top of that and you're talking about 43.4% tax rate. It's basically a tax hike for everybody. Ranging from $2,200 to $3,500 a year for the average family.
Congressman Boustany also discussed:
- The Farm Bill
- Cuts in military spending
- Mid-East tensions
Listen to the entire interview: