Dayton Offers Plan to Cut Taxes for Working Families, Extend Unemployment Benefits Says Bush Plan Drives up Deficits to Benefit Wealthiest Americans

Dayton Offers Plan to Cut Taxes for Working
Families, Extend Unemployment Benefits
Says Bush Plan Drives up Deficits to Benefit Wealthiest Americans

WASHINGTON, DC - Senator Mark Dayton today introduced a tax plan that will cut taxes for lower- and middle-income wage earners and freeze rates for the wealthiest earners at current levels. and extend unemployment benefits for part-time workers and those who have exhausted their current benefits.

Dayton released the following statement on his tax plan:

"Congress is now considering one of the most important bills we will debate and pass this year. President Bush's current tax proposal would give them another tax cut averaging $85,000 per year for the decade. I believe that is too much for the rich of America and not enough for the rest of America.

"I prefer a tax cut which would be much fairer to all federal income taxpayers and a better economic stimulus. My plan would triple the amount of income taxed at the new 10-percent rate. I also support the President's proposal to increase the child tax credit immediately from $600 to $1,000 per child.

My proposal would provide a larger tax cut to all but the richest Americans than the President's plan; yet, mine would cost the federal treasury less than half of his. Less to the rich and more to the rest of America is too good to pass. But I intend to try."