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December 16th, 2010

Congress Passes Extension of Bush-Era Tax Cuts


Iowa Congressman Tom Latham released the following statement after voting in favor of HR 4853, legislation to extend the current tax rates and fend off a major tax increase for all Americans beginning Jan. 1:

“The tax bill approved by the House of Representatives on Thursday makes sure that no American will face a tax hike on January 1.  The economic condition of our country remains precarious, and allowing the current tax rates to expire and replacing them with a massive tax increase would be disastrous for families, employers and the national economy.

“This legislation lifts some of the uncertainty that is freezing our economy in place and dispels the doubt surrounding future tax liabilities for every American.  It improves the ability of employers to plan ahead and start hiring again.  Allowing the current tax rates to expire would bury middle-class families with a huge tax increase.  This legislation, on the other hand, represents a critical step toward sustained job creation and a long-term economic recovery.”

Photo by Dave Davidson

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The Iowa Republican

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