DENNIS A. CARDOZA: “the Republicans have said that this bill raises taxes, but that's far from the truth. Let me again, as I did in my…”

“the Republicans have said that this bill raises taxes, but that's far from the truth. Let me again, as I did in my opening, set the record straight. This bill closes tax loopholes that allow a privileged few on Wall Street to pay a lower tax rate on their income than the average hardworking American does on their income. That includes school teachers, police officers, firefighters, our Nation's veterans, and, frankly, even us privileged that are able to serve here as Members of Congress. Mr. Speaker, the Republicans need to make a choice today. Are they going to stand with tax cheats and hedge fund managers, or are they going to stand with the 23 million hardworking Americans who will be affected by this policy? Mr. Speaker, the House of Representatives is united in our commitment to fiscal discipline and ensuring that government lives within its means. The Democratic Congress pledged to exercise spending restraint and to stop shouldering our country's needs on the backs of our children and grandchildren. We strongly urge the other body, Democrats and Republicans, to have the courage and good sense to keep the promise they made to the American people to be good stewards of their taxpayer dollars. We can't pick and choose when we comply with PAYGO rules if we want to reverse the irresponsible fiscal policy of the Bush administration and the prior Republican Congresses.”