William R. Richardson: “in this tax bill, where are the tax breaks designed to improve the lives of ordinary Americans? This bill has provisions…”

“in this tax bill, where are the tax breaks designed to improve the lives of ordinary Americans? This bill has provisions to allow Exxon to write off expenses on capital improvements, but there are no breaks for students that try to improve themselves through higher education. The greatest threats to our Nation's economy are soaring deficits and the erosion of the middle class. Today's tax cut legislation will not remedy any of these problems. Instead it places the burden of future deficits squarely on the backs of working Americans. Economic indicators tell us that the economy is growing at a strong, steady pace. Do we really need to stimulate it with massive tax cuts for wealthy Americans and big business? We should take advantage of a healthy economy and follow a prudent course of deficit reduction that will solidify our financial base. Let us send a message to Americans that Congress is making honest spending cuts that pay off our debts. Tying spending cuts to budgetary gimmicks further undermines the credibility of this institution.”