U.S. Senator Debbie Stabenow made the following statement today following the 51-48 vote on the Middle Class Tax Cut Act. The bill, which now goes to the House for a vote, will cut taxes for 98% of Americans and 97% of small businesses:
"Middle-class families and small businesses have been hit hard by this recession. With many families still struggling to make ends meet, pay their bills, and get back on their feet, it was absolutely critical that we passed this bill, and now it is time for the House of Representatives to follow our lead and cut taxes for the middle class."
The House must now vote to pass the bill by December 31st of this year. If the middle-class tax cuts are not extended by the deadline, an average middle-class family would see their taxes increase by an average of $1,600 next year.