On the recordJuly 19, 2012
Massive tax increases loom on our horizon. If Congress doesn't act before January 1, middle class families will see a return of the marriage penalty, the AMT, higher rates on capital gains, dividends, estates, and painful tax hikes on incomes. According to a new study, the President's tax plan would cost us more than 700,000 American jobs. Mr. Speaker, we all hear from our neighborhood businesses back home who say Congress can't raise taxes during a recession and expect the economy to generate new jobs. Yet some of my colleagues seem content to tax anyone who might have enough revenue to hire and then hope the voters blame someone else when it hurts the middle class. Well, I don't care about the blame game. I care about jobs and the economy. Let's stop the tax hikes, extend current rates, and work immediately on effective reforms to lower rates, close loopholes, and promote growth. ____________________
