Tax cuts: One 'Yes' vote, and one 'No'
Tuesday, December 14, 2010 at 10:40 And here is the reasoning from the horse’s mouths - pretty much what you would expect:
From Mark Udall, Democrat, from Colorado:
Dear cynthia,
Yesterday, I cast my vote against extending tax cuts to millionaires and billionaires, and called for a reworked package that focuses on tax cuts for the middle-class Americans that drive our economy forward.
Among all the challenges our nation faces today, one of the most ominous threats to our long-term national security is our ballooning national debt — funded by China and other creditors around the world. As I said on the floor of the Senate yesterday, our skyrocketing national deficit is a ticking time bomb that needs to be defused.
The tax package currently being considered by the Senate turns a blind eye to this threat, and instead adds $700 billion to the deficit over the next decade to fund the same tax breaks for millionaires and billionaires that have failed to create jobs and spur the economy since 2001.
I have already voted twice to pass the middle-class tax cuts and extend unemployment insurance for Americans searching for work, which will spur our economy forward. I am proud of those votes, and I will continue to work to offer responsible tax relief to middle-class Americans without the unnecessary tax cuts for the rich that will only grow our national debt. I stand ready to work through the holidays if that’s what it takes to get middle-class Coloradans the tax relief that they deserve.
Thanks so much for your support.
Sincerely,
Mark Udall
U.S. Senator
And from Progressive Minnesotan, Al Franken:
Dear Cynthia,
A lot of people are unhappy that the President punted on first down, and I’m one of them. Extending the Bush tax breaks for the super-wealthy will explode our deficit over the next two years without doing anything to help our economy. It’s bad policy.
But for Minnesota’s middle class, struggling to get by in a tough economy, there’s a lot in this bill that will really help: tax cuts for working families, a payroll tax holiday, energy tax credits, and the extension of Recovery Act initiatives that are already making a difference.
And for the Minnesotans truly suffering right now—men, women, and children on the edge of economic disaster—the alternative is simply unacceptable. If we let Republicans block unemployment benefits, even temporarily, there will be a lot more pain for working families, a lot more homeless kids spending Christmas in a shelter or a car.
If this is the prelude of a permanent extension of the Bush tax breaks for the super-wealthy, we’re in big trouble. We’ll lose our ability to make the investments we need to grow our way out of long-term budget deficits: education, infrastructure, and research and development. And I am taking the President at his word that he will fight harder to put an end to these wasteful tax breaks in 2012 than he did in 2010.
This isn’t a great deal by any stretch of the imagination. But I got into this line of work because I wanted to stand up for Minnesota families trying to put food on the table and build a better life for their kids. And, for them, the only thing worse than a bad deal would be no deal at all. That’s why I voted yes yesterday—and why I will continue my fight for economic policies that create jobs, address our deficit problem, and build new opportunities for Minnesota.
All the best,
Al
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