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29 September 2010

Kingston: Dems Should Vote On Extending Bush Tax Cuts Before Leaving Town

With reports that Congress may adjourn as early as Wednesday, Georgia Republican Jack Kingston is among those calling on the Democratic leadership to hold a vote on extending the Bush tax cuts.

“We are on the cusp of the largest tax increase in our nation’s history and skipping town without voting on this will increase uncertainty,” said Kingston. “In doing so, we’re keeping investments that create jobs on the sidelines. No one wants to put any skin in the game until they know how this will play out. What’s wrong with an open debate and an up-or-down vote to provide reassurance to the small businesses at the front lines of our economy? We stand ready to roll up our sleeves and work through the weekend. Kicking the can down the road just doesn’t cut it.”

Kingston is one of 143 House Republicans who signed a letter to Speaker Nancy Pelosi requesting that a vote on extending the Bush tax cuts be held before the House breaks for its October recess.

"If Congress fails to act before the end of the year, American families and small businesses will incur a $3.8 trillion tax increase– over $200 billion of which comes next year," the letter reads. "This increase will hit millions of small businesses and threatens to take more money out of the private sector. The pending tax increase will impact every American who pays taxes. In addition to eliminating the lowest tax bracket, the tax increases include reinstating the marriage penalty, cutting the child tax credit and resurrecting the Estate Tax."

Politico reported Wednesday afternoon that Pelosi decided to hold the vote after the November elections [Sherman, Jake & Allen, Jonathan (2010-9-29). House Democrats punt on voting to extend taxes. Politico. Retrieved on 2010-9-29.].