Democratic Leader Nancy Pelosi announced that Democratic members of the Ways and Means Committee and Leadership will introduce identical legislation to the Senate-passed middle class tax cut legislation. Additionally, the Committee will introduce responsible estate tax relief ensuring 99.7 percent of decedents face no estate tax.
"House Democrats will introduce the Senate-passed middle class tax cut legislation that would give one hundred percent of Americans a tax cut. It has already passed the Senate and could be signed into law by President Obama without delay.
"The only thing standing in the way is House Republicans, who want to spend hundreds of billions of dollars to give an extra tax cut to people making over $250,000 a year, while forcing the middle class to pay more. America's middle class and small businesses are counting on us to act and prevent uncertainty in our economy and ensure fairness."