Paul Ryan Claims House GOP’s Latest Fiscal Cliff Scheme Doesn’t Include ‘A Single Tax Increase’

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"Paul Ryan Claims House GOP’s Latest Fiscal Cliff Scheme Doesn’t Include ‘A Single Tax Increase’"

House Republicans plan to vote tonight on their so-called “Plan B,” which would void the tax increases and spending cuts scheduled for the end of the year. Instead, the GOP’s two measures would cut spending from a series of consistent GOP punching bags — food stamps, Obamacare, and Wall Street reform among them — and then extend the Bush tax cuts on income up to $1 million.

However, Plan B would allow the lapse of several key tax credits — including expansions of the Earned Income Tax Credit and the Child Tax Credit — meaning that it would raise taxes on millions of low-income and middle-class families. The Tax Policy Center found that nearly one-quarter of Americans in the lowest income quintile would see their taxes go up by an average of $934.

But don’t tell House Budget Committee Chairman Paul Ryan (R-WI) — fresh off his failed Vice Presidential bid — who claimed on the House floor that “there’s not a single tax increase that we’re proposing here”:

With respect to taxes, heh, what we are trying to do here is limit the damage to the taxpayer. There’s not a single tax increase that we’re proposing here, not a single. What we’re saying is, prevent as many tax increases as possible from hitting anybody in this economy.

Watch it:

As CNBC’s Robert Frank wrote, “drilling down deeper, you find that some of those low-income earners could see a sizable increase. One in five of Americans who earn less than $20,000 a year will see an increase of $1,070 – a sizeable amount for low-income earners.” In addition to raising taxes on the middle-class, Boehner’s Plan B would preserve a slew of tax breaks for the wealthy.

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