WASHINGTON – U.S. Congresswoman Candice Miller (MI-10) co-signed a letter with several members of Congress to urge the U.S. Speaker of the House Nancy Pelosi to allow the U.S. House of Representatives an up-or-down vote to extend the expiring tax cuts in The Economic Growth and Tax Relief Reconciliation Act of 2001 (P.L.107-16) and The Jobs and Growth Tax Relief Reconciliation Act of 2003 (P.L.108-27). In addition, 42 Democrat members of Congress recently called on Speaker Pelosi to act on extending the tax cuts immediately.
“To date, Congress has taken no action to avoid the largest tax increase in American history; including massive new taxes on small business job creators which has created a tremendous amount of uncertainty within our economy,” Miller said. “The status of our fragile economy relies on us to act on these tax cuts for small business – the employers who can provide the needed jobs to Americans. There is bi-partisan support to extend all tax cuts, and the vote needs to happen this week. I call on Speaker Pelosi to schedule an up-or-down vote on this critical issue for every American.”
If Congress fails to act before the end of the year, American families and small businesses will incur $3.8 trillion tax increase – over $200 billion of which comes next year. 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.