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Pelosi: Tax Cut Legislation Gives Middle-Income Families Fairness and the Economic Opportunity to Create Jobs
Thank you very much, Mr. Speaker. I thank the gentleman 1/8Mr. Levin 3/8 for yielding. I commend him for his great leadership in terms of working and being a champion for America`s working families, for America`s middle-income families who need so much help at this time of this down economy.
Mr. Speaker, this has been a very interesting week. Yesterday, hundreds of people looking for work came to the Capitol of
This is the first time in American history when unemployment benefits would have been allowed to expire at this rate of unemployment. They came looking for jobs. They came in the spirit of fairness to say: Until we can find jobs, we need to continue unemployment insurance. And what they heard was that the Republicans in the
Now I think we should use a measure for everything that we do what does it do to create jobs, what does it do to reduce the deficit? Unemployment insurance, economists tell us, returns
I mention this because it is the context in which we bring up this tax cut for middle-income families in America today. And while some on the other side say this is not going to make a difference, it indeed makes a difference. Let me say unequivocally, there will be no tax bill for any situation unless there is a tax cut for middle-income people in our country. That is what this vote is about today. That is our declaration. That is what we send to the table for the discussion that the President has so rightfully called for.
Now what our Republican colleagues are saying is we know they must support tax relief for the middle class, right? And this is tax relief for every income filer, everyone gets a tax break. Well what they are saying is, Unless you give an additional tax break to the wealthiest people in our country, adding to the deficit and not creating jobs, we are not going to vote for middle-income tax cuts. As Mr. Hoyer said, Holding the middle- income families of America hostage for a tax cut for the wealthiest.
And who are they? Well, some of them create wealth, create jobs, and we want to reward success in America. And they do get a tax cut in this bill. Some of them are getting bonuses on
This is so grossly unfair. It is so grossly unfair. I can t imagine that my colleagues on the Republican side don t want to give a tax cut to the middle class. Why don t they just go for that? They can try to add whatever else they want and have that debate. But to say that this is not the right thing to do, I think is not the right thing to say.
And so, we have a situation where we come out of an election. Jobs, jobs, jobs, jobs. That`s what those hundreds of people looking for work came to
While it is giving, I m saying, a tax cut to the wealthiest people in America,
But we come to this floor, we Democrats today, with great clarity. The tax cut for middle-income families will create jobs because people will spend that money, again, inject demand into the economy, and create jobs. That is something that will help. That growth will help to reduce the deficit. While the record shows, and recent history acknowledges that the tax cuts at the high end did not create jobs, those tax cuts were in place during the Bush years. And more private sector jobs have been created this year than the entire eight years of the
So if you want to create jobs, if you want to reduce the deficit, if you want to stabilize the economy, if you want to support the value of what the middle class, middle-income families mean to our country these workers who came were veterans. They were the backbone of our country. They came from the heartland of America. They came from a place where we in this
So the choice is clear. It`s not about 42 signatures 1/8in the
I again salute Mr. Levin for his leadership and yield back the balance of my time. Thank you.