This week, I joined my colleagues in the House and voted to stop the largest tax hike in history – which threatens more than 700,000 jobs – and to lay the groundwork for a simpler, pro-growth tax code that helps bring home some of the jobs that have gone overseas.
If tax cuts, like the child tax credit and marriage penalty relief, are allowed to expire at the end of this year, the average family in my district would see their taxes increase by $7,211. The bills we passed this week not only stop the tax hike set for next year but also establish a pathway to comprehensive tax reform next year – sending a clear signal to families, employers, and the financial markets that taxes will not go up on January 1, 2013.
The House-passed bill will extend all current tax rates for another year bringing certainty to families and small businesses and helping create jobs. Even the non-partisan Congressional Budget Office has said the failure to act and extend the expiring tax cuts would push the country back into a recession.
I was proud to join my colleagues and vote to protect American jobs. This week’s #stopthetaxhike vote was in addition to the more than 30 House-passed jobs bills awaiting a vote by a Democrat controlled Senate. I urge the Senate and the President to join the House in protecting American jobs and American families.