U.S. Senator Barbara Boxer (D-CA) issued the following statement after Senate Democrats voted to extend tax cuts for millions of American families. The legislation also extends other tax provisions that benefit the middle class -- the American Opportunity Tax Credit, the expanded Child Tax Credit and the expanded Earned Income Tax Credit.
Senator Boxer said, "I am very pleased that Senate Democrats voted to renew tax cuts worth $1,600 to the average American family. It is stunning to me that Republicans would walk away from a plan that would reduce the deficit and give millions of families the security of knowing their tax cuts will be extended. I hope the House will take up and pass our bill."
The Republican plan, which was defeated, would have given millionaires an average tax cut of $160,000 while raising taxes for about 25 million American families by an average of $1,000 by allowing the American Opportunity Tax Credit, the expanded Child Tax Credit and the expanded Earned Income Tax Credit to expire at the end of the year.