I take this time to talk about the Tax Relief Unemployment Insurance Reauthorization and Job Creation Act, the tax package, the Senate amendment No. 4753. This is the tax bill we have been talking about for the last several weeks. The first thing I wish to point out is that this bill is the result of a compromise. Similar to any compromise, there are some provisions I strongly support, and there are provisions I would have preferred not to see in this legislation. We have to evaluate the positive aspects as well as those provisions that I would prefer not to be included. There are some very important provisions included in this legislation that I fought long and hard to make sure we accomplished before Congress adjourns this year. First and foremost is a provision that would extend the current tax rates for middle-income families. If we don't do that by December 31, those tax rates will go up, and the withholding schedules would be changed. The bill also extends unemployment insurance, a matter I have voted for and I have spoken on the floor about, the fairness and the importance to our economy of extending unemployment compensation benefits for those who are unemployed, giving the more recent unemployed the same benefits we gave the earlier unemployed during this downturn in the economy. Those benefits would be available through 2011.
Editor's note · Context
Speaker Cardin discusses the Tax Relief Unemployment Insurance Reauthorization and Job Creation Act and its provisions.
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