Political Quotes

“Mr. President, today I have filed an amendment to extend for 1 year the individual income tax provisions of the 2001 and 2003 tax relief acts for all Americans, but with a surtax of two percent on those earning $1 million or more, coupled with a ``carve-out'' to protect our nation's small businesses. The Congressional Budget Office has warned us that the ``fiscal cliff'' created by the expiration of current tax rates on December 31, coupled with ill-advised and deep cuts in defense spending that would result from ``sequestration,'' would likely result in a recession in the first half of next year. It makes no sense and should be unacceptable to all of us to allow our country to go over this ``fiscal cliff.'' I have long urged that we begin the debate on comprehensive tax reform aimed at creating a simpler, fairer, pro-growth tax code. I also believe that multimillionaires and billionaires can afford to pay more to help us deal with our unsustainable deficit. My amendment would, therefore, impose a 2 percent surtax on millionaires, with a carve-out to protect small business owners who pay taxes through the individual income tax system. Our Nation's small businesses must not be lumped-in with millionaires and billionaires. The ``carve-out'' I am proposing would shield small businesses owners from tax increases intended to fall on the very wealthy. These small business owner-operators are on the front lines of our economy, and of the communities in which they live.…”