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Representative Tim Murphy Votes to Raise Taxes on 98 Percent of Americans

Representative Tim Murphy Votes to Raise Taxes on 98 Percent of Americans
 
Even as millions of hardworking Americans struggle to afford gas, groceries, and housing, today Representative Tim Murphy and fellow House Republicans voted to give 98 percent of middle class families the one thing they need the least right now – a hike in their taxes.
 
Representative Tim Murphy and fellow House Republicans’ vote against middle class tax relief comes weeks after Republican Leader John Boehner said he would support extending tax relief only to the middle class. Yet, rather than provide tax relief that will help struggling families make ends meet and small businesses to hire more workers, Representative Tim Murphy is holding these tax cuts hostage to provide tax breaks to millionaires.
 
“Instead of giving immediate tax relief to 98 percent of middle class families and small businesses who need it the most, Representative Tim Murphy and fellow House Republicans are fighting to give tax breaks to those who need them the least,” said Ryan Rudominer of the Democratic Congressional Campaign Committee. “It’s outrageous that Representative Tim Murphy would vote to raise taxes on 98 percent of Americans during these tough times instead of doing everything possible to help families make ends meet and businesses to create more jobs.”
 
Background
 
·         The Middle Class Tax Relief Act of 2010 would permanently extend the 2001 and 2003 tax rate reductions for middle-class taxpayers earning $200,000 or less for individuals and $250,000 for married couples filing jointly [HR 4853, #604, 12/2/10].
 
·         The measure includes:
 
o   A permanent extension of the 10%, 25% and 28% rate brackets.  It also permanently extends the 33% rate bracket to the extent that this bracket applies to income of $200,000 or less for single filers ($250,000 or less for joint filers).
 
o   A two-year extension of alternative minimum tax relief to protect more than 25 million families from the AMT.
 
o   A permanent reduction in capital gains and dividend tax relief for middle-class taxpayers.
 
o   A permanent marriage penalty relief for middle-class taxpayers.
 
o   A permanent extension of small business expensing amounts, to ensure that small business taxpayers be allowed to quickly recover the cost of certain capital expenses.
 
·         According to the Center for Tax Justice, unmarried taxpayers making over $200,000 a year and married couples making over $250,000 a year are only 2.1% of all US taxpayers.  [CTJ, 10/10/10]
 
·         Unless this measure becomes law, these middle class tax cuts will expire on December 31, 2010.
 
·         In an interview on CBS’s Face the Nation in September, 2010, Republican Leader John Boehner said that, if approving a bill to extend tax breaks for middle class income Americans were “the only option,” he would support it. [CBS News; September 12, 2010]
 
###
 
For Immediate Release, December 2, 2010
CONTACT: Jennifer Crider & Ryan Rudominer (202) 485-3440

Email:
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