Congressman Toomey’s Recovery Plan: Help the Rich, Forget the Rest

Fights for Tax Breaks for Wealthy, Proposes Eliminating Tax Cuts for the Middle Class

MEDIA, Pa. – Congressman Toomey likes to say that the unspent portions of the recovery bill should be repealed but what he doesn’t tell you is that the unspent portion is largely tax benefits for the middle class.  Of the roughly $110 billion left, almost half ($45 billion) goes directly to tax cuts for the middle class. Once again, Congressman Toomey proves he is against middle class tax relief and is only in favor of benefits for the super-rich.

During his interview with Ted Koppel, Congressman Toomey insisted that there were at least a couple hundred billion dollars that could be rescinded. “I think we’re on, we’re still a couple hundred billion dollars.” [Interview with Ted Koppel, Chamber of Commerce, PCN 9/27/10] 

According to the New York Times, “[of] roughly $260 billion left, contracts have already been signed for $150 billion. Another $45 billion is tax cuts that will soon be claimed, and $33 billion is for safety-net spending, like food stamps. That leaves $31 billion in investment projects – like roads and rail systems – still up for grabs.” [New York Times, 9/26/10]

As Toomey proposes rescinding middle class tax relief, the Associated Press reports that “the income gap between the richest and poorest Americans grew last year to its widest amount on record as young adults and children in particular struggled to stay afloat in the recession.” [AP, 9/28/10]

“With Congressman Toomey, it’s a question of priorities,” said U.S. Senate candidate Joe Sestak. “Working families in Pennsylvania are reeling from an economic collapse caused by the same reckless economic policies he supported, but rather than support efforts to get America moving again, Congressman Toomey would rather hand over billions in gifts to the wealthy and let the rest of America pick up the tab.”

His proposal to rescind middle class tax breaks builds on his refusal to extend middle class tax cuts unless the wealthiest few get even bigger breaks. Two weeks ago, Congressman Toomey was asked whether he would be willing to compromise on breaks for the top two percent of earners if it meant preserving middle class tax relief. His answer? He would fight for tax cuts for the rich. [KDKA, 9/20/10]

“Congressman Toomey is in lock-step plan with the extreme wing of his party that wants to provide more giveaways to the wealthy at the expense of ordinary Americans,” said Joe. “Our representatives in Washington should be dedicated to helping all Americans recover from the recession, not catering to the privileged few. As Pennsylvania’s next U.S. Senator, I will always fight for the working family.”