Political Quotes

“Mr. Chair, I rise in reluctant opposition to H.R. 4853, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act. Two weeks ago, I voted for a better bill, the Middle Class Tax Relief Act, which passed the House but was not taken up by the Senate. That bill would have extended tax cuts for middle class taxpayers, including about 323,000 lower- and middle-income families in my congressional district who make less than $200,000 (under $250,000 for joint filers). The bill that is on the floor today extends tax cuts on all income levels, including the wealthiest Americans, costing $407.6 billion. Under this bill, the millionaires and billionaires can sleep soundly, secure in the knowledge that their tax cuts will continue for at least another two years, while the unemployed get relief for only 13 months. Economists predict that many millions will continue to be unemployed beyond the 13 months. This deal is weighted so heavily toward the richest few that the unemployed only receive 7 percent of the total package. We must fight for a better deal. But my biggest concern has to do with a threat to the solvency of Social Security contained in the legislation. The so-called ``payroll tax holiday'' in H.R. 4853 raids the Social Security Trust Fund. Anyone who cares about Social Security should be scared by this. This provision reduces the Social Security payroll tax and self-employment tax by two percentage points in 2011.…”