Reed Votes For Extending Tax Breaks
Despite reseervations Reed say not passing it would have increased taxes in January
Congressman Tom Reed has voted to prevent the pending income, death and other tax hikes that would have hit every family and business in the 29th District on January 1, 2011.
“Despite my reservations about the spending, I voted in favor of continuing the current tax rates,” Reed said. “If this bill were to fail, all tax rates would increase in just two weeks. That would directly impact every person and business, lead to greater unemployment and a longer recession. The poorest taxpayers would take a hit of more than $500. The average middle class family in the 29th District would pay more than $1500 in increased taxes. The government already takes enough from our families and businesses. This bill lowers payroll taxes for working Americans so they can keep more of their paycheck.”
During the debate, Reed made remarks on the House floor decrying the lack of action which created the necessity for the tax rate deal and vote. “This situation is another example of what is wrong with Washington,” Reed declared. “Difficult decisions are continually put off until we are forced to make a decision in crisis mode as the clock ticks.”
“Knowing for years that this day was coming, Congress chose to do nothing. Thus we were backed into a corner where the current tax rates to expire on all American taxpayers if we did not act by December 31. It didn’t need to be this way.”
“Shame on the politicians whose inaction over a decade forced us onto this precarious ledge,” Reed said. “We cannot be put into this position again.”
Reed noted that he remains strongly opposed to new spending, such as the ludicrous, earmark-laden appropriations considered by the Senate. “Now that this bill has passed, we in the majority in the next congress will focus on cutting the out of control spending in Washington so that we are never in this position again,” he said. “Previous Congresses have failed to cut spending. The new Congress cannot.”