Political Quotes

“some have advocated repealing, delaying, or killing the implementation of these tax cuts. That is bad news for the economy. If Members look at what is in the tax cuts that are before us today, what begins getting phased in in the tax cut, because we were unable to do it all in the same year, are some pretty important provisions. One is our efforts to eliminate the marriage tax penalty. I think Members agree that under our Tax Code, it is unfair that married working couples pay more in taxes than two single people living together. We essentially wipe out the marriage tax penalty in the President's cut. We help small business by eliminating the death tax, which takes away up to 55 percent of the family business when the founder passes on. The Bush tax cut also included additional retirement savings benefits which are phased in over the next few years. And, of course, we double the child tax credit, currently $500, raising that to $1,000. And for those in the top two tax brackets, the 39 percent and the 28 percent, we lower those tax brackets from 39 to 35 and from 28 to 25. Those are all in jeopardy if we go along with those who want to raise taxes by suspending those tax cuts. I have yet to find a real-world economist who tells us that it is a good idea to raise taxes during a recession.”