Today, Congresswoman Lois Capps (CA-23) released the following statement regarding her vote today to avert tax increases at the end of this year for middle class families and small businesses. The Senate recently passed legislation that would ensure taxes do not go up for 98% of taxpayers on January 1st when the so-called Bush tax cuts expire. House passage of the Senate bill would have cleared the bill for the President's signature. Capps voted for the legislation but it failed by a vote of 171-256.
Today I voted to ensure taxes on middle class families and small businesses would not go up at the end of this year. There is bipartisan agreement on that point so we should put aside the partisan squabbling and come together to pass legislation to ensure that happens. I voted for legislation that would do just that and I'm disappointed that the House did not approve the bill, leaving middle class families and small businesses with uncertainty about their tax situation in the months ahead. I don't believe, however, that in a time of record deficits we can afford to continue the tax cuts for the richest two percent of Americans. We need to get our fiscal house in order and letting rates on the richest in our society simply return to where they were in the 1990s, when our economy was booming, should be one common sense step in that process."