Congressman Rob Bishop (UT-01) issued the following statement upon House passage of the Middle Class Tax Relief Act of 2010. This legislation prevents billions of dollars in tax increases set to occur January 1, 2011.
"This bill ensures that the massive tax hikes set to hit Utah families and businesses on January 1 are stopped dead in their tracks.
"Some believe that waiting until later next year might help land a different deal, but with President Obama and Senator Reid still in power, there is no guarantee that would happen. I don't like poker and I'm not willing to gamble with the livelihoods of hardworking Utahns for some nonexistent deal that might never materialize. Liberals who wish to raise taxes may have no incentive to negotiate for lower rates come January if all the tax rates have already increased. The only thing we know with certainty is that taxes will go up in two weeks if action is not taken now. With the passage of this bill, we are guaranteeing that billions of dollars in tax increases will not occur.
"We had to take immediate action to protect hard-working Americans and provide some certainty for businesses to create jobs. Under the new Republican majority, when Congress returns in January, I will continue work to shrink the size of our excessively large and intrusive government and reduce the unacceptable rate of federal spending. Moreover, I will work with my colleagues to address what is probably the biggest problem with this legislation--the death tax provision. While this bill reduces the death tax, it is not reduced as much as it should be--down to zero. I want it completely eliminated. Death should not be a taxable event.
"On this one, I agree with colleagues like Ron Paul, who in voting for this bill briefly summed up his support this way: "Anytime I can reduce taxes, I will.'
"We must stop these tax hikes in order to provide economic certainty now -- not gamble on some theory of what might happen later."