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House passes Middle Clas Tax Relief Bill

Got two news releases on this late today. Excerpts:

"Washington, DC – Today, Congressman Joe Baca (D-Rialto) joined a majority in the House of Representatives in voting to extend middle-class tax cuts that will spur economic growth in America and provide 97% of American families and small businesses with tax relief over the next ten years. The Middle-Class Tax Relief Act passed the House by a bipartisan 234 – 188 vote....



The Middle-Class Tax Relief Act permanently extends the 2001/2003 tax cuts for all families making less than $250,000 a year, including: current tax rates, marriage penalty relief, capital gains and dividends rates, and the $1,000 child tax credit. The legislation also protects more than 25 million taxpayers from the alternative minimum tax by extending the AMT patch through 2011, and permanently extends small business expensing provisions. "

"WASHINGTON, D.C. December 2, 2010 – Today Rep. Calvert (R-CA) voted against the so-called “Middle Class Tax Relief Act” (H.R. 4853), and opposed Speaker Pelosi (D-CA) and her cohorts for stifling job growth, attacking businesses and playing class politics. H.R. 4853 passed the House by a vote of 234 to 188, despite opposition from Republicans and 20 Democrats.

“With national unemployment remaining near 10 percent, and approaching 16 percent in the Inland Empire, and with the economy continuing to struggle, now is the worst possible time for a tax increase on any American,” said Rep. Calvert. “Raising taxes on the very people who create jobs will only result in more unemployment and, ironically, less government revenue."

Two wildly different takes on the same piece of legislation.

Answer Question
 
gdiamante

Asked by gdiamante at 10:56 PM on Dec. 2, 2010 in Politics & Current Events

Level 37 (95,167 Credits)
Answers (18)
  • Taxing the rich is not the answer. In fact there is no magic bullet, only incremental steps toward climbing out of a very very big hole we just dug ourselves into. I don't know the solution to this very complex problem, especially at 11pm at night. Great question to ask though, I am interested to hear other views.
    Olivia4116

    Answer by Olivia4116 at 11:09 PM on Dec. 2, 2010

  • Good. They have done something constructive.
    janet116

    Answer by janet116 at 11:51 PM on Dec. 2, 2010

  • They've done nothing. It's all just a political show. They KNOW that it won't pass the senate, so they're just posturing so they can say they're "pro-middle class".
    LeanneC

    Answer by LeanneC at 12:09 AM on Dec. 3, 2010

  • Leanne so they can say they are pro middle class? You mean they are pro middle class. All the tax breaks to the top 1% has created jobs overseas and put more money in their pockets. If the system was working during the Bush years, we wouldn't be where we are today.
    Anonymous

    Answer by Anonymous at 5:41 AM on Dec. 3, 2010

  • Awesome
    sweet-a-kins

    Answer by sweet-a-kins at 8:58 AM on Dec. 3, 2010

  • LOL at the two completely different takes on the bill. Thanks for posting them.

    QuinnMae

    Answer by QuinnMae at 9:12 AM on Dec. 3, 2010

  • It isn't going to help me a bit. That's okay though..it's not like I actually employ people or anything....

    yourspecialkid

    Answer by yourspecialkid at 10:31 AM on Dec. 3, 2010

  • No they didn't.

    I was just watching the news.

    mustbeGRACE

    Answer by mustbeGRACE at 10:32 AM on Dec. 3, 2010

  • ?? Grace, last status posted by the Library of Congress last night confirms the above news releases? I haven't seen another update on AP since last night. If you've got another source, please do link me. I'm serious. Or you may need to call that newsroom and tell them one of the young and dumb newswriters got it wrong (that happens with frightening frequency).
    gdiamante

    Comment by gdiamante (original poster) at 10:46 AM on Dec. 3, 2010

  • And I just got a newsletter, dated today, from another Republican member of our congressional delegation, lamenting the passage... perhaps you were thinking of a different bill rather than the one referenced by Rep. Calvert above?
    gdiamante

    Comment by gdiamante (original poster) at 10:56 AM on Dec. 3, 2010

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