Republicans Blocked Middle Class Tax Cut; Chose to Protect Millionaires over Middle Class
Washington - U.S. Senator Robert Menendez (D-NJ), co-sponsor of the Middle Class Tax Cut Act, said tonight that Democrats would continue to fight to ensure that middle class families get the tax breaks they need to put real money back in their pockets next year. The Middle Class Tax Cut Act - which Senate Republicans blocked - would help create jobs and stimulate demand by giving approximately 160 million workers an increased payroll tax cut, with the average American family seeing nearly $1,500 in additional take-home pay and the average working family in New Jersey seeing more than $2000. The bill also cuts taxes for small businesses - the job creators in this country - to help them expand and create jobs.
"America's middle class is the backbone of our nation and as they struggle, our nation suffers," said Menendez after Republicans blocked a vote on extending and expanding the payroll tax cut because it asked millionaires to pay their fair share. "Neither our working families nor our economy can afford to let these tax cuts expire - we must extend and expand them. So let's get back to work and get this done."
Despite majority support for the Democrats' proposal, they were unable to move it forward because Republicans' opposition required a full 60 votes rather than a majority.
Republicans would not support the bill because it was paid for with a surtax on income over $1 million. Instead, they offered a proposal that would extend the tax cuts for a year, but would not expand them. Their proposal would also not provide any tax cuts for small businesses. The plan pays for the extension in part by cutting 200,000 federal jobs.
"The Republicans offered a plan that does not give one more cent of relief to the middle class and not one dime of relief to small businesses - the same businesses the Republicans continue to claim are the job generators we must protect," Menendez said in voting against the Republican proposal. "And they put the burden of paying for itentirely onmiddle class workers rather on the millionaires who can most afford it."
Middle Class Tax Cut Act Of 2011:
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March 12, 2024