Ms. McCOLLUM. Madam Speaker, House Democrats and President Obama are fighting for families by working to extend middle class tax cuts that will benefit 98 percent of Americans. Our plan will put $2,200 in the pockets of an average family next year. That's money that can be spent by your family on your family's needs. That money will help Minnesota businesses grow and hire employees in St. Paul, Roseville, and Oakdale.
But House Republicans refuse to extend tax cuts for the middle class unless millionaires and billionaires get an extra tax cut. It's wrong to borrow $50 billion from China so millionaires and billionaires can get an extra tax cut of $160,000.
The Bush tax cuts for the superwealthy built a mountain of debt and failed to strengthen the economy. The Bush years proved that the Republican love affair with tax cuts for the superwealthy are a wasteful handout. They failed to create jobs.
The American economy is strong when the American middle class is strong. I urge my colleagues to vote for the Democrats' middle class tax cuts.