Democratic Leader Nancy Pelosi released the following statement after House Republicans introduced legislation to protect tax cuts for the wealthiest Americans:
"Republicans have finally put their tax plan on paper, and Americans can now see that the Republican goal is to protect the top two percent at the expense of the middle class.
"We all agree we should extend middle income tax cuts. But Republicans are holding tax cuts for 98 percent of Americans and 97 percent of small businesses hostage to tax breaks for the wealthiest 2 percent. Making matters worse, the Republican bill raises taxes on 25 million working families -- right at a time when our middle class can least afford it.
"We must pass middle income tax cuts now, offer certainty to our nation's families and businesses, create jobs, and restore fiscal soundness. The Republican proposal is a bill to nowhere and a tax hike on America's families. The Senate will not pass it and the President will not sign it into law."