On the recordDecember 2, 2010
I rise in strong support of the rule and the bill we are voting on today, the Middle Class Tax Relief Act. This bill will help millions of Americans who are trying to make ends meet by providing them with sorely needed tax relief. The Middle Class Tax Relief Act permanently extends the tax cuts for middle class taxpayers so that individuals who make less than $200,000 a year, under $250,000 for joint filers, will get the tax relief they need. This legislation would help about 323,000 lower-and middle-income families in my congressional district alone. My colleagues on the other side of the aisle have made it clear that they won't vote for this bill because it doesn't meet their highest priority--continuing the status quo of providing tax breaks for the wealthiest 2 percent of Americans. Not only is this reprehensible, it is bad math. A recent Labor Department report shows for every dollar spent on unemployment insurance, $2 are reinvested into the economy. Continuing tax breaks for millionaires and billionaires, the richest 2 percent of Americans, would add a whooping $700 billion to our deficit over 10 years.
