Political Quotes

“Within the next few days, the House could take up a tax package that extends a number of tax breaks permanently. The cost of such a package runs in the $600 billion to $800 billion range--none of which is paid for--ballooning our deficits in a way that reinforces a misguided double standard that investments in the growth of jobs and opportunities must be offset, but tax cuts are always free. Tax cuts, like everything else, have a cost. If we fail to pay for them, we will once again increase deficits and debt, which in turn will be used as the catalyst for another round of cuts to the very programs I believe are vital to our economy and to our people. Therefore, Mr. Speaker, I will oppose an unpaid-for tax extenders package like this that is proposed, should it come to the floor. Before going through my concerns about this deal in greater detail, let me say that the package being discussed has a number of tax preferences that I and many others support. These include making permanent expansions of the earned income tax credit, the child tax credit, and the American opportunity tax credit launched under the Recovery Act in 2009. It would also provide incentives to businesses and individual filers for investment, research, charitable contributions, and teaching expenses, among others. Most of us support those efforts. In many ways, this would be a bill where everyone gets something they want. But, Mr. Speaker, our children and grandchildren will get the bill.…”