after careful deliberation, I have decided to support the bipartisan tax agreement. If Congress does not pass this agreement, taxes will rise for all middle class families. Unemployment insurance will end for millions of Americans--including 75,000 Marylanders. And important tax breaks for low and middle income workers will expire. This agreement is not perfect. Yet, if Congress does not extend unemployment insurance and tax breaks for the middle class, the economy could slip backwards. This is the only realizable option we have right now to create jobs, stabilize our economy, and ensure that there is a safety net for people who have lost their jobs. This package maintains tax cuts for the middle class so that working families do not see their taxes rise in a difficult economy. It will help 100 million middle class families by preventing a tax increase of over $2,000 for the typical family from going into effect on January 1st. It also prevents more than 21 million families from coming under the Alternative Minimum Tax. This deal extends the Earned Income Tax Credit--providing $800 million in tax relief for Maryland families. It also extends the tuition tax credit which has helped 170,000 students in Maryland. This plan will extend unemployment benefits through the end of 2011. It will help over 75,000 families in Maryland who have lost their jobs. It will help them put food on the table, pay their rent, and pay their energy bills.
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Mikulski discusses her support for a bipartisan tax agreement and its implications for middle-class families.
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