Tax Increases Loom

Floor Speech

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Madam Speaker, 98 percent of American families face a tax increase on January 1, 2011. That's right; 98 percent. Democrats are prepared this week to prevent that from happening. Our recovery demands keeping as much income as possible in the hands of those who need it the most--America's middle class. By extending the middle class tax cuts, we can protect American families and strengthen our economy.

But with a national debt already exceeding $13 trillion, we simply cannot afford to borrow $700 billion needed to cut taxes for the 2 percent richest families in America. It is also important to remember that the richest Americans would still receive substantial tax cuts on the first $250,000 of their income.

This is not class warfare. I urge my colleagues to support permanent tax cuts for America's middle class. Don't hold the tax cuts hostage to help 2 percent of America's families.

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