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Pingree Opposes Tax Cut for Millionaires and Billionaires

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Congresswoman Chellie Pingree opposed a Republican plan last night to extend tax breaks for millionaires and billionaires and voted for a Democratic plan to extend taxcuts for families making up to $250,000.

"The wealthiest Americans have been getting richer and richer while it is getting tougher and tougher for working families to make ends meet. It's not millionaires who need a tax break, it's average families," Pingree said.

Last night Pingree supported a continuation of tax breaks for working families that House Republicans blocked because it didn't extend the Bush tax cuts for the richest 2% of Americans.

Pingree said while the tax bill passed by the House last night would extend the Bush taxcuts to the richest 2%, it would also raise taxes on 25 million families byending tax credits for working families and students that Pingree voted forwhen she first came to Congress in 2009 (American Opportunity Tax Credit, enhancements to the Child Tax Credit and the Earned Income Credit).

"Under the bill the House passed, a Sergeant in the Air Force who is married with three kids would actually see a tax increase of about $1,100. It's outrageous to ask him to pay for a $160,000 tax break for a millionaire," Pingree said.

"We had a clear choice in the House last night--giving tax breaks to 98% of American families and 97% of small businesses, or the Republican plan that hands out big tax cuts to the richest Americans," Pingree said. "The Republicans insisted on cutting taxes for families making over $250,000--which is more than $20,000 a month. They aren't the ones struggling in this economy."

Voting largely along party lines, the House rejected a Democratic proposal to continue tax cuts for families making up to $250,000 and approved a Republican bill to extend tax cuts to the wealthiest taxpayers.

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