Rep. Cathy McMorris Rodgers (R-WA), Vice Chair of the House Republican Conference, released the following statement today urging immediate action on extension of the current tax rates.
"If Congress allows the current tax rates to expire on January 1, taxpayers will face a $3.9 trillion tax hike over the next 10 years--the largest tax increase in history. These higher taxes will be especially damaging to small businesses throughout Eastern Washington and across the country.
"With 15 million Americans currently out of work, it makes no sense to take money out of the hands of small business--the backbone of our economy. Small businesses account for 70% of new jobs in America. Forcing them to pay higher taxes to the government means they are less likely to create jobs.
"This fall my Republican colleagues and I signed a "Pledge to America' to prevent tax increases as part of a new governing agenda. In keeping with that pledge, I urge Speaker Pelosi to hold an up-or-down vote on extending the tax rates which are essential to America's economic recovery without further delay. No tax ever created a job in America, and raising taxes in the current economic climate would only increase the threat of a double-dip recession."