Despite the growing chorus of Democrats calling for the extension of all Bush-era tax cuts, Senate Majority Leader Harry Reid (D-Nev.) on Monday signaled that he will put forward a proposal that will extend only those tax breaks benefiting the middle-class.
"Regardless of what any individual senator may think about tax cuts for the wealthiest Americans, I had hoped we could all agree that middle-class families deserve to have their taxes cuts," he said Monday in prepared remarks, adding that extending tax cuts for the wealthy is "bad economic policy that will hurt our nation and its recovery."
Reid claims that extending the tax cuts for wealthier taxpayers would secure more "giveaways for millionaires and CEOs who ship American jobs overseas."
Reid is expected act first on the Bush tax cuts and is expected to take them up after his chamber acts on legislation providing tax relief and loan opportunities to small businesses.
http://thehill.com/blogs/on-the-money/domestic-taxes/118393-reid-signals-support-for-ending-tax-cuts-for-the-wealthy
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