On the recordDecember 16, 2010
I thank the ranking member for yielding. Mr. Speaker, since last summer, I've been among those voices in this Congress calling for action to prevent a tax increase that would affect every American just a few short weeks from now. So I rise with a heavy heart today to say that as I look at this short-term tax deal negotiated by the White House with congressional leaders, that I have concluded after much study that it is a bad deal for taxpayers, it will do little to create jobs, and I cannot support it. Let me say, though, that I have the deepest respect for my colleagues on the Republican side of the aisle who may differ with me on this issue in the final analysis. This is a tough call. No Republican in this Congress wants to see taxes raised on any American. We all know what we should be doing today is voting to extend all the current tax rates permanently. The reality is that uncertainty is the enemy of prosperity. And simply by extending some of the tax rates that are on the books today for a few short years, we will not create the certainty necessary to encourage businesses to take out loans, to expend resources in ways that will put people back to work. We just know that. I was back in Muncie, Indiana, just a couple of days ago. I had a banker walk up to me at Rotary, and he said, What are you going to do on this? Sounds like a tough deal. And I said, You know, I hadn't decided at that point.…
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