Congresswoman Mazie K. Hirono (HI-02) released the following statement on her vote against H.R. 8, the Republican tax legislation that would give an extra tax break for the richest two percent while raising taxes on 25 million middle class families:
"Today's vote is about our priorities when it comes to creating a strong economy for the future and the values that guide how those priorities are set. Is our priority to keep giving tax breaks to millionaires and billionaires? Or to give 98% of taxpayers and 97% of small businesses a tax break to help keep the economy moving forward? We know "top down' tax cuts don't grow a strong, resilient economy that creates good-paying jobs. That's why we should pass a bill based on the values that will grow a strong economy -- President Obama's middle class tax plan. His plan gives our families and small businesses a break and asks the wealthiest two percent to pay their fair share to help cut the deficit.
"The Republicans' plan looks out for the richest of the rich -- while raising taxes on 25 million families, including our military families, by hundreds of dollars or more. That's the last thing our families need right now.
"I sided with Hawaii's families and small businesses and voted against the Republican plan. Because my priorities are helping them, not the wealthiest two percent."
The Republicans' tax plan would end expansions of the popular Child Tax Credit, the Earned Income Tax Credit, and credits to help middle class families pay for college. The Republicans' plan would also have the following effect on Hawaii's military families:
MARINE CORPORAL (E4), Four years' service, married with two children
Military basic pay: $27,660
Earned Income Tax Credit under current tax policy and Democratic plan: $4,326
Earned Income Tax Credit under Republican plan: $3,878
TAX INCREASE UNDER GOP BILL: $448
AIR FORCE SEARGENT (E5), eight years' service, married with three children
Basic pay: $34,723
Earned Income Tax Credit under current tax policy and Democratic plan: $3,508
Earned Income Tax Credit under H.R. 8: $2,390
TAX INCREASE UNDER GOP BILL: $1,118
U.S. ARMY PRIVATE (E1), first year of service, married with one child
Basic pay: $18,196
Child Tax Credit under current tax policy and Democratic plan: $1,000
Child Tax Credit under H.R. 8: $727
TAX INCREASE UNDER GOP BILL: $273
Source: http://hirono.house.gov/news/documentsingle.aspx?DocumentID=305521
