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Dec-17-2010 13:30printcomments

Americans see Starkest Party Contrast with Tax Cut Bill

Republicans held middle-class tax relief and job saving unemployment benefits hostage and demanded as ransom the passage of tax breaks for the wealthiest Americans.

U.S. President Barack Obama
U.S. President Barack Obama

(WASHINGTON D.C.) - With the President expected today to sign into law the tax cut package passed by Congress last night, Americans United for Change executive director Tom McMahon issued the following statement:

“The American people have never seen a clearer contrast of what the two governing parties stand for than in the priorities each fought for in the tax bill that will soon be signed into law.

The Democratic leadership and the White House made job creation and economic recovery priority #1 by fighting for continued tax cuts for middle class families, tax credits making college more affordable, and unemployment insurance for millions of Americans who through no fault of their own lost their job and have faced a daunting market of five unemployed workers for every one job opening.

Democrats listened to leading economists that have stressed time and again that extending unemployment benefits is amongst the most stimulative actions government can take to get the economy moving again and will create or save hundreds of thousands of jobs.

Democratic Leadership Made Job Creation, Economic Recovery Priority #1 One with Extension of Middle-Class Tax Relief, College Tax Credits and Unemployment Benefits GOP Held Middle-Class Tax Relief Hostage, Put Economy and Jobs at Risk to Give Millionaires and Billionaires Another Tax Break They Don’t Need and The Nation Cannot Afford

“Meanwhile, Republicans in Congress had only one priority: extending tax breaks for the absolute wealthiest Americans and estates, with absolutely no regard for the tens of billions of dollars it will add the deficit.

It is outrageous that the Republicans held the critical needs of middle-class tax relief and job saving unemployment benefits hostage and demanded as ransom the passage of tax breaks for the wealthiest Americans - and especially cuts in the Inheritance tax that provide hundreds of millions of dollars to no one but the sons and daughters of multi-millionaires.

“Let history show that Congressional Republican were willing to put almost anything at risk to give millionaires another tax break they don’t need, the nation certainly can’t afford, and that history shows does very little to create jobs. They put middle class tax cuts at risk. They put the economy at risk. They put job growth at risk. They put unemployment insurance for millions at risk in the middle of the holiday season.

“For two decades middle class incomes have stagnated while Wall Street bonuses have skyrocketed. So it is particularly outrageous that the Republicans insisted on these huge tax breaks for the rich, at the same time they continue to argue that we should cut the deficit by taking money out of the pockets of the middle class by cutting Social Security, Medicare, investments in education, critical infrastructure and health care.”

Source: News release from Americans United for Change

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