WASHINGTON – Today, Sen. Tom Carper (D-Del.) voted in support of S.3412, the Middle Class Tax Cut Act. The Senate passed the measure 51 to 48. His statement follows:
“Thousands of middle-class families in Delaware and millions across our nation are still experiencing the very real and painful effects of the greatest recession to face our country since the Great Depression. The legislation we passed today would continue tax relief for middle-class families that make less than $250,000, while allowing the tax cuts to expire on income higher than the $250,000 threshold. Given the size of our budget deficits, we have to start finding extra revenue to help dig us out of this fiscal hole, and one way to do that is to ask the more fortunate among us to pay a little more in taxes.
“But make no mistake, this bill is a short-term fix to a long-term problem. Thanks to partisan gridlock, we passed a bill today that kicks the can down the road and avoids the critical decisions we have to make to reduce our budget deficit. We can’t keep fixing the tax code or extending tax cuts on a piecemeal basis. Congress and the administration need to come together to adopt a comprehensive tax reform plan as part of a broader effort to rein in federal spending and reduce our national debt. Reforming our tax code would give families and businesses much-needed certainty and predictability, improve our nation's economic competitiveness, and shield families and businesses from financial harm. I remain hopeful that Congress will be able to come together to develop and enact a solution that does just that by the end of year.”