On the recordJuly 24, 2012
Mr. President, today I wish to talk about a bill that will reduce taxes for 97 percent of all small business owners. I wish to talk about a bill that will keep $2,200 in the pockets of the middle class next year. I wish to talk about a bill that will extend tax cuts for those making less than $250,000 per year. I wish to talk about the Middle Class Tax Cut Act and why it should pass with overwhelming and bipartisan support. My colleagues across the aisle have said they want to get our country back on its feet. Well, I know our prosperity has always stemmed from and been measured by the success of the middle class. They are the ones who get in early and stay late. They take on a second job to make it just a little bit easier to pay for college. They wait to retire to save more to help their children and grandchildren. Under no circumstances should middle-class people be worried about their taxes going up, particularly at a time when median income, middle-class income is declining in America. To raise taxes at a time when the middle class is struggling makes no sense whatsoever. Under no circumstances--no circumstances--should the middle class have to worry about their taxes going up. So we are proposing a 1-year extension of the Bush-era tax cuts on all Americans on the first $250,000 of income they make. Let it be known that tax break will go to everybody.…
Source
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