With our economy ailing and families struggling to make ends meet, now is the time to give middle class families permanent tax relief. Missourians are already over-taxed and Congress must act now to allow middle class families to keep more of what they earn.

 

However, if Congress fails to act and make middle class tax relief permanent, the biggest tax increase in American history is right around the corner. Failure to act will result in a $683 billion tax increase paid for by hard working families.

 

Working families will be hit especially hard. For example, a family of four with two children that currently earns $50,000 annually would see a 191 percent increase in their tax bill. On average, Missouri families are facing, a tax increase of $2,825 per year. Washington shouldn’t finance their spending addiction on the backs of the hard working middle class families.

 

Married couples will also feel the pinch. Some married couples will actually pay more taxes than if they had filed separately as singles. All told, married couples are facing $25.4 billion in additional taxes if Congress does not act.

 

Finally, failure to extend the 2001 and 2003 tax cuts resurrects the death tax, making it harder for families to hand down the family farm or small business to the next generation. Bringing the death tax back to life is $181 billion tax hike on farmers and small businesses over the next five years.

 

With our economy struggling, now is the time to give middle class families and small businesses the tax relief they need to ensure that we get our economy moving again.