Chris Van Hollen: “Thank you, Mr. Chairman. I rise in strong support of this legislation as the best way to move our economy forward. The…”

“Thank you, Mr. Chairman. I rise in strong support of this legislation as the best way to move our economy forward. The Middle Class Tax Relief Act extends significant tax relief to every American. Let me say that again: Every American. Under this legislation, no matter how much you make, the first $250,000 will continue to benefit from today's lower rates. And given the softness in our economy and the number of households that are still struggling, that's the right thing to do. But what this legislation does not do is put an additional $700 billion on our national credit card, as our Republican colleagues would like to do, by extending an extra bonus tax cut to the folks at the very, very top. Instead, for the top 2 percent, those reporting income over $250,000, we have the Clinton-era tax rates on just that additional portion of that income. And with our annual deficits now topping $1 trillion, and our national debt approaching $13 trillion, it's the right thing to do to make sure our economy is on a sustainable footing for the future.”