Tate Zeigler (202-224-5972) or Kevin Bishop (864-250-1417)

WASHINGTON – U.S. Senator Lindsey Graham (R-South Carolina) today released the following statement in response to President Obama’s speech detailing his debt reduction plan, which raises taxes on job creators.

“The President’s $1.5 trillion dollar tax increase on investors, job creators, and American business is poorly-timed, ill-conceived, and dead on arrival,” Graham said.

“Our economy desperately needs to grow so more Americans can get back to work. Tax increases on job creators, like President Obama is proposing, will be a death blow to any recovery.

“Our tax code needs to be reformed. I support tax code simplification which combines lower rates with the elimination of deductions and loopholes.

“However, increasing tax burdens on job creators is the last thing we ought to do in a weak economy. The President’s 1.5 trillion tax increase will certainly make it more difficult to grow the economy and create jobs.”

####