Lee Terry: “This bill has short-term extensions and permanent tax hikes and still, over time, puts $54 billion onto our national…”

“This bill has short-term extensions and permanent tax hikes and still, over time, puts $54 billion onto our national debt. Now, there are some of these extensions that we would all support if they were offset. But adding to the national debt is the wrong way and a harmful way. This is not a time to raise taxes on investments and business. That's a sure way to kill jobs. For example, one of the provisions, higher taxes on carried interest means less dollars into real estate investment development. In Omaha alone developers and contractors have gone bankrupt, jobs lost, projects stalled or killed because of lack of capital, and this will make it worse. More taxes equals less capital, means more jobs lost. This is a job-killing bill, and I am going to vote against it.”