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Feb 08th

Congressional Progressive Caucus Co-Chairs: Obama Tax Proposal is the Right Policy at the Right Time

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Washington, D.C. — The Congressional Progressive Caucus is in support of President Obama's plan to extend middle-class tax cuts, while raising taxes on the wealthy.

Reps. Keith Ellison (D-MN) and Raúl M. Grijalva (D-AZ), Co-Chairs of the Congressional Progressive Caucus, released a statement following the President's call on Congress to cut taxes for Americans making under $250,000.

"(The) announcement from the president is an opportunity for Congress to give middle-class American families what they need to put food on the table," said Ellison and Grijalva in a joint statement. "Extending tax cuts for those making less than $250,000 will benefit 98 percent of American households and will boost the recovery as American families can purchase basic items like groceries and school supplies. A fair, targeted, one-year tax reduction for working Americans will help the entire country."

The two went further and said, "Unfortunately, the Republican House majority has repeatedly put the concerns of millionaires and billionaires ahead of middle class families. GOP lawmakers believe a struggling economy will help them politically and put a Republican in the White House. The American people have already been on the losing end of their gamble for more than a year. And we can't afford to let them continue to hold the country hostage."

According to Ellison and Grijalva, asking the rich to pay a bit more is not a new idea.

"All Americans, including the very wealthy, benefit when everyone contributes their fair share," said the two Representatives. "When presidents (Ronald) Reagan, (George) Bush, Sr. and (Bill) Clinton told millionaires and big corporations to pay their fair share, the country saw millions of new jobs and strong economic growth for decades."

The Congressional Progressive Caucus called on the House to act and approve the President's tax plan.

"That's why the President's announcement is so important," said Ellison and Grijalva. "It's time to focus on the needs of working Americans instead of the partisan needs of the wealthiest few and their friends in Washington. This is the right policy at the right time and we support it wholeheartedly."

The Republican controlled House has yet to consider the President's tax proposal.


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