Congressman Serrano Opposes GOP Tax Plan

Submitted by ub on Fri, 08/03/2012 - 23:09

Congressman Serrano voted against H.R. 8, a Republican effort to extend the Bush tax cuts for the wealthiest Americans. Instead, he voted for a Democratic alternative that would have extended tax cuts for 98 percent of all Americans.

"Republicans are attempting to hold the middle class hostage in order to try to extend tax cuts for the wealthiest Americans," said Serrano. "The Republican tax policy is neither fair nor balanced- it will hurt hard working Americans and increase our deficit. We need to pursue a more balanced approach by extending tax cuts for Americans who need it the most while asking the wealthiest in our society to give a little bit back in order to help balance the budget. The House of Representatives should follow the Senate's lead and pass H.R. 15, which does just that."

H.R. 15, the Democratic alternative the Republican tax efforts, mirrors a bill that recently passed the Senate. It extends the Bush tax cuts for 98 percent of Americans, and also extends vital expansions of the American Opportunity Tax Credit, the Earned Income Tax Credit, and the Child Tax Credit. Republicans in the House refused to vote for this alternative when given the chance. The Republican passed bill now moves on to the Senate, where it has no chance of passage.