What Congressman Richmond Wants You to Know About the Fiscal Cliff

Statement

By:  Cedric Richmond
Date: Dec. 4, 2012
Location: Unknown

Dear Friend,

Last week, President Obama discussed the need for Congress to act quickly in order to prevent tax increases on hard-working middle class families. As we approach the holiday season, the threat of an increase in taxes is something that middle-class families simply can't be burdened with. That is why Congress must come together to address our country's current fiscal situation.

Before the end of the year, Congress needs to find a solution to prevent the nation from going over the "fiscal cliff'. I am committed to doing my part in Congress and working alongside my Democrat and Republican colleagues to keep taxes low for 98 percent of American families.

Some important factors for families to consider:

* If we fail to avert the 'fiscal cliff' a typical middle-class family of four would see its income taxes go up by $2,200. That means less money for buying groceries, less money for filling prescriptions, and less money for buying diapers.

* The President, along with me and my Democratic colleuges, are prepared to pass a law that would prevent a tax hike on the first $250,000 of everyone's income. Even the wealthiest Americans would still get a tax cut on the first $250,000 of their income.

We must come to an agreement on middle-class tax cuts before December 31st, so that American families and small businesses can have some peace of mind heading into the New Year. An agreement on middle-class tax cuts now would give Congress more time next year to work together on a comprehensive plan to bring down our deficits, and streamline our tax system in a balanced way so that we can still invest in important things like education, science, and research.

Please know that I am determined to do all I can to work with my colleagues in Congress to prevent these tax increases from impacting the lives and livelihoods of middle-class families. I am optimistic that the next time you hear from me, it will be to celebrate our victory in building a bridge over the fiscal cliff!

Sincerely,