Jackson Citizen Patriot: Rep. Tim Walberg votes to extend Bush tax cuts, but Republicans and Democrats can't agree
By: Bob Wheaton
JACKSON, MI - Rep. Tim Walberg voted for a House Republican measure that would extend for one year tax cuts approved under the administration of President George W. Bush.
The legislation is opposed by most Democrats in the House and Senate, who are proposing to extend the cuts for most taxpayers, but not the wealthiest Americans.
The tax cut extension passed the House Wednesday by a vote of 256 to 171, largely along party lines.
"The president's economy has hit middle class families and small businesses hard," Walberg, R-Tipton, said in a news release. "If these tax hikes are not stopped, the ability for small businesses to invest and hire will be further hampered.Meanwhile, middle-class families will be taxed an extra $2,200 on top of their already tight budgets. One of the worst things Congress can do is to raise taxes on the American people as we try to avoid falling back into a recession. These hikes must be stopped."
The Democratic plan would allow taxes on income, capital gains and dividends to increase on earnings of more than $250,000, the New York Times reported.
The tax cuts expire Jan. 1. Republicans and Democrats are not expected to work out a deal before the November election.
“I implore my colleagues, don’t propel us over this abyss,” Rep. John B. Larson, D-Connecticut, said in the New York Times