12/03/10 Thursday, Congressman Joe Donnelly released the following statement after the House passed legislation permanently extending the existing middle class tax cuts.
“I’ve said from the beginning of this debate that we need to make the tax cuts for the middle class permanent,” said Donnelly. “That’s why I voted for the bill on the House floor today. I’ve also said that we should extend the cuts for the higher-wage earners for a year or two while our economy continues to recover. In a perfect world, we would be able to make them all permanent, but voters were clear in November that they’re concerned about the deficit and debt. Making the tax cuts for higher-wage earners permanent would cost $700 billion over the next 10 years. That is a lot of money and not something our nation can afford right now. Given the approaching deadline, Democrats and Republicans in both the House and Senate must come to agreement on this issue as quickly as possible so Americans have peace of mind going into the new year.”
