A huge tax increase is looming unless this House takes action immediately. Unless this House takes action in the next few weeks, a typical American household earning $50,000, $60,000 a year will see a tax increase of $1,000 a year on payroll taxes--yes, Madam Speaker, a $1,000 tax increase for middle class families, many of whom have not seen any raises or increases for several years due to the recession. People who are struggling to support their families will see a $1,000 tax increase if this body does not act in the next several weeks. This is a tax increase that most families haven't budgeted for and haven't prepared for. They haven't assumed that this Congress is as dysfunctional as it potentially is if we fail to renew this tax increase. We shouldn't let our dysfunction in this body harm the middle class and the American people. I call upon my colleagues on both sides of the aisle to support renewing the payroll tax extension to make sure that middle class families are not slapped with a $1,000-plus tax increase next year. ____________________
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