The 60 Second Update with

Congressman Mike Pence

3. Obama promised that 95% of Americans won’t see their taxes rise by a single dime, will he keep his promise?

Unfortunately, no. Under the Obama budget taxes will increase by $1.5 trillion. This means that families, small businesses and family farms that are struggling to make ends meet will be forced to pay even higher taxes. This is no solution.

Unlike the Obama budget, the Republican alternative protects our nation’s hard-working taxpayers and provides much-needed tax incentives by using private capital, not taxpayer dollars, as a way to quickly jump start our economy.  Our plan would also suspend capital gains tax through 2010 and reduce the corporate tax rate from the second highest in the industrialized world to 25 percent.

My hope was that President Obama would have stayed true to his pledge to not raise taxes but unfortunately his massive spending plans speak for themselves.

 Question 4. How will the Obama budget affect my children's future?