Cicilline Statement on Extension of Bush-Era Tax Cuts

U.S. Congressman David N. Cicilline (D-R.I.) released this statement following the House vote on the extension of Bush-Era tax cuts:

“Far too many hard working Rhode Island families and small businesses continue to face serious economic challenges. They need and deserve the certainty of knowing that, come January 1, 2013, they will not see an increase in their federal income taxes. We had an opportunity today to pass a plan offered by Democrats in the House – identical to a proposal that already passed in the Senate, and one that the President would sign – that extends tax cuts for 98% of Americans and 97% of small businesses. I am deeply disappointed that, in their effort to protect tax breaks for the wealthiest among us, Republicans in the House have failed once again to do right by the middle class and come to an agreement that would prevent a tax increase on an estimated 400,000 families in Rhode Island. The Republican proposal continues tax breaks for the wealthiest 2 percent of households while ending the expanded Earned Income Tax Credit and expanded Child Tax Credit, and eliminating the American Opportunity Tax Credit, effectively increasing taxes on 25 million families with incomes below $250,000 including military families with moderate incomes. We cannot allow taxes on the middle class to increase at a time when Rhode Island families can least afford it.  I will continue to fight for a balanced tax plan that protects working families, the middle class, and small businesses, and ensures the wealthiest among us pay their fair share.”

Link to Congressman Cicilline speaking on the House Floor today in defense of Middle Class Tax Cuts: Defending Middle Class Tax Cuts