On the recordNovember 16, 2010
2 weeks ago today, the American people registered a historic rejection of American liberalism and the agenda of this administration and this Congress. The American people said in deafening terms that they are tired of the borrowing and the spending and the bailouts and the takeovers and the tax increases of the recent past. They voted for change. That's why it's so remarkable, Mr. Speaker, that this Congress is poised to allow one of the largest tax increases in American history to take effect in January of this year. A historic $3.9 trillion tax increase could take effect, impacting every American, if Congress fails to act. The average tax increase will be more than $1,500 per household. American families will see the marriage penalty reinstated, the child tax credit cut in half, and tax rates on investments and savings and inheritance will all increase. It is absolutely imperative, if Congress accomplishes nothing else in this lame duck, that we take immediate action to make permanent all of the current tax rates.
