“Any extension of the Bush-era tax cuts for the wealthiest Americans is just a non-starter,” said Virginia Democratic Rep. Robert Scott, a CBC member.
Caucus members said they have the strongest reservations about Obama’s agreement to extend current tax rates for households earning more than $250,000 annually and the proposal to set the estate tax at 35 percent for assets worth beyond $5 million. CBC Chairman Barbara Lee of California said the plan could place an unfair burden on the working class to reduce the national deficit.
“We are extremely concerned that the cuts that could be made should this package pass would disproportionally hurt the poor and low income communities and further erode the safety net,” she said.
Read this entire article here Congressional Black Caucus comes out strong against Obama-GOP tax plan
Tweet
0 comments:
Post a Comment