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Bustos Blasts Schilling’s Vote to Impose New Taxes on Military Families
Cheri Bustos today criticized Congressman Bobby Schilling’s vote yesterday for senseless new taxes on military and middle class families, while continuing costly tax breaks for families with incomes over $1 million. Congressman Schilling supported a proposal (H.R. 8) that would raise taxes on approximately 25 million middle-class families by slashing tax credits, including the child tax credit.
“It’s bad enough that Congressman Bobby Schilling's misplaced priorities are to stand up for millionaires over the middle class, but for Congressman Schilling to support a tax increase on military families contradicts all common sense,” Cheri Bustos said. “Our region’s largest employer is the Rock Island Arsenal, and I’m committed to keeping the military and veteran communities of Illinois’ 17th Congressional District strong. It's appalling that Congressman Schilling continues to support policies that endanger the Arsenal and the soldiers who support it.”
Congressman Schilling voted this week to preserve tax breaks for millionaires and big corporations, but supported ending expansions of the Earned Income Tax Credit (EITC) and the Child Tax Credit and ending the American Opportunity Tax Credit, which raises taxes on 25 million families by an average of $1,000.
The Center for American Progress conducted an analysis of military pay and compiled examples of how the plan Congressman Schilling supports adversely affects military families. That analysis can be found here<http://www.americanprogress.org/issues/2012/08/military_families_tax.html>. The House Republicans’ H.R. 8 would have the following impact on typical Army families in Illinois.
Army Specialist (E4), four years’ service, married with two children
· Basic pay: $27,660
· EITC under current tax policy and Democratic plan: $4,326
· EITC under H.R. 8: $3,878
TAX INCREASE SCHILLING VOTED FOR: $448
Army Sergeant (E5), eight years’ service, married with three children
· Basic pay: $34,723
· EITC under current tax policy and Democratic plan: $3,508
· EITC under H.R. 8: $2,390
TAX INCREASE SCHILLING VOTED FOR: $1,118
Army Private (E1), first year of service, married with one child
· Basic pay: $18,196
· Child Tax Credit under current tax policy and Democratic plan: $1,000
· Child Tax Credit under H.R. 8: $727
TAX INCREASE SCHILLLING VOTED FOR: $273
Note – estimates are illustrative and based on 2013 pay rates. They do not include Basic Allowance for Subsistence (BAS) and Basic Allowance for Housing (BAH), which are non-taxable, nor any other additional incentives that a sailor may receive based on rank, training, or job specialties. It also does not include any additional household income.