U.S. Senator Jim Bunning issued the following statement in support of the bipartisan tax package that was approved in the Senate by a vote of 81-19.
"After spending two years ignoring the will of the American people by signing into law an unconstitutional takeover of our health care system, a failed stimulus package, and a financial regulation bill that had no teeth, I am glad President Obama has finally seen the light. If tax hikes go into effect in January, our economy will face the threat of a double-dip recession, and by passing this bipartisan tax package today we are now one step closer to ensuring that does not happen.
"Aside from preventing tax increases on families and small businesses, the bill also extends provisions that are important to Kentucky and America's energy security, such as the alternative fuel credit for coal-to-liquids production.
"The bill certainly is not perfect, and I wish we had been able to pass an amendment to pay for the spending increases included in it. America has a debt crisis because Washington spends too much, not because it taxes too little. While it was absolutely necessary that we pass this bill now in order to stop taxes from spiking in January, I hope the next Congress will get serious about slashing spending to get our massive debt under control."