Dole: "I Think President Bush's Economic Policies Are Exactly Right," Kay Cut Taxes by $840 Million over Decade in State Senate

October 8, 2008

GREENSBORO, N.C. – Senator Elizabeth Dole has been a reliable rubber-stamp for the failed economic policies of George Bush, supporting him 92% of the time. Describing the Bush economic theory, Dole said, “I think President Bush’s economic policies are exactly right, I don’t know about you,” as well as telling voters that “the Bush economic policies are working” during his re-election campaign.

The economic crisis we are currently dealing with is the result of the Bush/Dole economic framework that continually put the special interests ahead of working families. While Elizabeth Dole increased our national debt, she worked to decreased regulatory oversight in the financial markets that was designed to help protect taxpayers and working families. While allowing the wealthiest of Americans to receive a tax cut, Elizabeth Dole refused to cut taxes for working families.

President Bush and Elizabeth Dole have increased the national debt by 59 percent, allowing it to expand to more than $10 trillion. Dole voted against restoring fiscally responsible “pay-as-you-go” budget rules. Dole also voted to raise the national debt limit five times, allowing the Bush Administration to borrow unprecedented levels of money from foreign countries hostile to our interests.

“Before we haphazardly add trillions more dollars to our future generations’ bill, we need to look at the policies that got us into this mess to begin with,” said State Senator and U.S. Senate Candidate Kay Hagan. “Allowing the special interests to write our policy, with this buy-now-pay-later mentality, has left working families on Main Street to pay the price. North Carolina families deserve someone to advocate on their behalf every day, every week, every month and every year. In this economy, we cannot afford anything less.”

Kay has been an advocate for working families in North Carolina throughout her decade of public service in Raleigh. A former budget chair, Kay cut taxes, investing in education and workforce development while making North Carolina one of the best states in which to do business. The Charlotte Observer praised North Carolina’s budgets, saying, “N.C. lawmakers use money wisely, cutting taxes, giving big bucks to education needs and helping counties with rising Medicaid costs.”

Kay supported a multitude of tax cuts, including economic incentive packages, property tax exemptions for disabled veterans, tax credits for small businesses providing health care for employees, a sales tax holiday for energy efficient appliances, a cap on the gas tax, deductions for married couples and an increased child tax credit. In 2008, the Charlotte Observer also noted that Kay “voted in favor of providing incentives to corporations that provide jobs.”

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