Congressman McMahon Backs Middle Class Tax Cut FrameworkBy USGOV
Wednesday, December 8, 2010
From the office of
Congressman Michael E. McMahon (NY-13)
Member: House Transportation & Infrastructure, Foreign Affairs Committees
MCMAHON STATEMENT ON EXTENSION OF TAX CUTS, UNEMPLOYMENT
Washington, DC - Below is Rep. Michael E. McMahon's statement regarding President Obama's announcement yesterday that the Bush tax cuts will be extended for two years and unemployment benefits will be extended for thirteen months.
Since January of this year, I have been calling for an extension of the 2001 and 2003 tax cuts. As one of the first Democrats to come out on this issue, I openly urged the President for a minimum two year extension of the current tax rates. I am pleased to see that this is the course of action that has come to fruition because I truly believe that we can not and should not be raising taxes during a recession. In addition, the fair compromise on the Estate Tax will help the family-owned businesses in Staten Island and Southern Brooklyn by giving less money to the tax man and keeping more money for future family generations.
These common sense extensions and tax cuts are combined with help for those who have suffered the most from this economic downtown and the long term unemployed. That is why it is also critical that we extend our unemployment benefits for the many hard-working Americans who have still not landed on their feet. With these two extensions, the President has focused once again on caring for our middle-class families and small businesses. We need to create jobs plain and simple, and this deal will provide incentives for that to happen.
These steps, together with cutting spending as announced by the House today, will give us the foundation to responsibly grow the economy while bringing down the deficit. This is the reasonable, non-partisan approach for which I have advocated and campaigned on over the last year.
I also want to note that, in my opinion, a strong leader is one who knows when to compromise. The President has shown that he will do whatever it takes to put the people of this Country and their needs first, as opposed to those who would block any and all action by stomping their feet like petulant children. The President has demonstrated that strong leadership and successful public policy is a compromise between the political parties.
Tags: Economy, Office of the Press Secretary, Statements and Releases, Taxes, United States, Whitehouse