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Larsen Assails $46 Billion Tax Giveaway to Millionaires, Calls for Tax Fairness


Location: Washington, DC

Rep. Rick Larsen, WA-02, issued the following statement today after voting against H.R. 9 which would give an untargeted 20 percent tax giveaway to businesses with no requirement of job creation.

"At the same time as Republicans are trying to strip away Medicare's guaranteed benefit, cut aid for kids to go to college and slash investments in our critical transportation infrastructure, they are now trying to give $46 billion away to millionaires, billionaires and special interests," Larsen said. "This untargeted giveaway will not create jobs, will add to the deficit, and the vast majority of the benefit will go to the wealthiest. In fact, 125,000 millionaires would get a windfall averaging $58,000 each.

"As we recover from the economic collapse and seek ways to close the deficit, we have hard choices to make. A huge giveaway to the wealthiest while cutting vital support for our seniors, young people and middle class Americans is the wrong choice to make.

"I am a cosponsor of the Buffett Rule because we need to restore fairness to our tax code and make the investments in our country that will create jobs and restore the middle class. We need to be deliberate about what we invest in and in how we raise revenue to pay for those investments. We need to improve our roads, bridges, highways and transit systems, invest in our young people by making college affordable, and preserve seniors' Medicare. If that means the wealthiest will have to pay at least the same rate in taxes as middle-class Americans do, then that is a choice I am more than willing to make."

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