Today, Representative David Price (NC-04) released the following statement as Republicans took the House floor to block a plan put forward by Democrats to cut taxes for all Americans on their first $250,000 of income--an issue both parties agree on. Republicans voted down the Democratic plan, which has already passed the Senate, because the package does not include an extra tax break on income over $250,000, which would increase the deficit by nearly $1 trillion over the next ten year.
"In today's marathon House debate, Republicans conducted a gymnastic floor exercise, complete with contortions, twists and flips aimed at obscuring an essential fact: they are content to hold hostage a tax cut for all Americans--a tax cut we all agree on--unless the additional Bush tax breaks, benefiting only the richest 2% of Americans, are extended.
"It's is no wonder the American people are frustrated with Congress. Let's get our work done and pass what we all agree on. Congress should be giving middle class families and job creators certainty; instead Republicans are holding them hostage to extract a bigger tax cut for people making more than $250,000 a year. Our Republican colleagues should reconsider and act now so that the Democratic plan cutting taxes for 100% of Americans can be signed into law by President Obama tomorrow."