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Statement by Robert Greenstein, Executive Director, Center on Budget and Policy Priorities, on the President's 2010 Budget Proposal
Date:2/27/2009

in every ten people with small business income have incomes over $250,000, the only group that faces higher taxes under this budget. Moreover, many people with small business income who are in this category are wealthy individuals who have invested in businesses, but who are not proprietors and have little or nothing to do with running those businesses. The vast majority of small business owners are middle-income individuals who would receive tax cuts under the budget; many of them would also benefit from its universal coverage and health care cost containment reforms.

To be sure, many will oppose various proposals to close tax loopholes, the Medicare and agricultural subsidy reforms, and the cap on the value of itemized deductions for the most affluent Americans -- while saying that they, too, favor universal health coverage, curbing global warming, improvements in education, and the like. This budget challenges them to propose their own ways to finance such measures.

This statement can be found on the Center's web site at: www.cbpp.org.

The Center on Budget and Policy Priorities is a nonprofit, nonpartisan research organization and policy institute that conducts research and analysis on a range of government policies and programs. It is supported primarily by foundation grants.


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SOURCE Center on Budget and Policy Priorities
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