Today, Congressman Larry Kissell (NC-08) voted to pass the Middle Class Tax Relief Act of 2010, permanently extending tax cuts for the middle-class. The bill passed the House 234-188. Kissell immediately called on the Senate to work to include language providing a temporary two year extension of tax cuts for all additional income levels.
"While I am happy we were able to permanently extend the middle-class tax cuts, during these economic times we must extend tax relief for all Americans," said Kissell. "Passing a two year extension for households that earn over $250,000 will help give our small businesses the opportunity to help hit our economy with all that we've got to get things back on track. My main focus has been, and will continue to be job creation, and to not temporarily extend this relief to all income levels does a great disservice to that commitment. Now is not the time to raise taxes on any American."
The Middle Class Tax Relief Act of 2010 will extend the 2001 and 2003 tax cuts, including marriage penalty relief, capital gains and dividends rates, and $1,000 child tax credit. The bill also protects more than 25 million taxpayers from the alternative minimum tax by extending the AMT patch through 2011, and permanently extending small business expensing. The legislation now moves on to the Senate.
"While the House leadership chose to not address this issue, I urge the Senate to work to include language that involves a two year extension for all households with income above $250,000. All revenue bills must originate in the House, and I am hopeful that this will be a solid first step to an agreement that will include a far reaching effort to get or economy back on track."