I will vote for this tax package that is before us tonight. While there is absolutely no reason to justify or defend the extension of the Bush tax cuts for wealthy Americans, and the unconscionable tax treatment of wealthy estates--both of which were insisted upon by the Republicans--those egregious giveaways to those who need or deserve it least are, in fact, more than balanced by generous support for tens of millions of households across the country. I will vote for the Pomeroy amendment to restore the estate tax to sensible levels. There is no justification for massive estate tax relief for the Nation's 6,600 wealthiest families, at a cost of $25 billion to America's taxpayers. Despite continuing the Bush tax cuts for those earning over $250,000 per year, and despite the estate tax provisions, this initiative, forged by President Obama, does a lot of good. We are extending unemployment insurance for 13 more months. It is desperately needed by those who simply cannot find jobs after being out of work for months. We are providing continued income tax rate relief for two years for the middle class. The payroll tax holiday is an enormously progressive reform at a time when it is most needed to boost take home pay. The extension of the child tax credit and the tuition tax credit in particular will greatly assist income security for American families. The green energy tax provisions will help create jobs and promote clean energy technology.
On the recordDecember 16, 2010
Editor's note · Context
Speaker Waxman discusses the tax package and its implications for American families and the economy.
Share
More from Henry Waxman
Nov 20, 2014
I claim the time in opposition, although I am not opposed to the amendment. The CHAIR. Without objection, the gentleman from California is recognized for 5 minutes. There was no objection.
Oct 22, 2019
I think of how Henry Waxman showed America the true face of the tobacco industry, exposing decades of deceit.
Nov 20, 2014
I thank my colleague for those generous comments, and I am pleased to be here today to express why this bill should not pass. Mr. Chairman, the bill is called the Promoting New Manufacturing Act. We would all want to do that--what a nice…





