Failure to Extend Tax Cuts Creates 'Anguish for Taxpayers,' Says Hayworth

Press Release

As of Jan. 1, the tax cuts enacted in 2001 and 2003 for every American taxpayer will expire. Senate Majority Leader Harry Reid (D-NV) has announced that the Senate will not vote on renewing the tax cuts before the Nov. 2 election. If the 2001 and 2003 tax cuts are not renewed, the federal government will collect roughly $3 trillion over the next decade. Of that amount, individuals earning $200,000 or less will pay nearly $2.4 trillion.

"The 2001 and 2003 tax cuts contain vital tax breaks for Americans across the spectrum, including our hard-pressed middle class," said Dr. Nan Hayworth, Republican/Conservative/Independence candidate for Congress in New York's 19th District. "Senator Reid's decision means anguish for taxpayers who are already wondering how they're going to afford to keep going in this stagnant economy."

Hayworth added that "it's been 6 months since President Obama signed the health care law. In that time, our premiums have gone up, coverage has gone down, and health care costs are projected to rise. Democratic leaders of the Congress chose to celebrate this 'anniversary' by delaying an important vote on tax relief. Businesses and individuals alike have already been burdened with uncertainty by the new health care and financial
regulation laws. Unemployment has been stuck in the 10 percent range for months. Assuring extension of all of the 2001 and 2003 tax cuts would provide a badly-needed boost to our economy and ease desperately-needed hiring. A tax-extension vote must be taken as quickly as possible."

Stopping job-killing tax hikes is a central component of the "Pledge to America" that House Republicans unveiled Thursday. The pledge also calls for repealing and replacing the health care reform bill passed earlier this year, including the onerous 1099 requirements to be imposed on small businesses.

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