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Lowey Statement on Fiscal Cliff Compromise


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Congresswoman Nita Lowey (D-NY), incoming Ranking Democrat on the House Appropriations Committee, today issued the following statement on legislation averting "Fiscal Cliff" tax hikes and spending cuts:

"I supported the Biden-McConnell compromise to protect middle-income families from significant tax hikes and protect arbitrary budget cuts that could have a severe impact on critical services and economic growth and competitiveness.

"The process by which we arrived at this deal -- running the clock down to the last possible minute -- does not inspire confidence in Congress' ability to govern effectively. It is especially worrisome that by delaying some tough decisions or difficult issues -- like reducing spending, raising the debt ceiling, and funding the federal government through 2013 -- we have simply created other crises that must be addressed within weeks or months.

"Nonetheless, it is good news for New York that families earning less than $450,000 will not see an increase in their income taxes and that the Alternative Minimum Tax will be permanently indexed for inflation, sparing thousands of families in our region from higher bills. I am also pleased the legislation protects important tax credits helping families send children to college and prevents reductions in Medicare reimbursements to physicians.

"I hope that that this compromise will pave the way for larger deals benefiting middle-class families in New York and nationwide."

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