Thursday Jan.
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Dear Friend, The House ratified the White House's deal with Senate Republican leader Mitch McConnell. And the White House made the Bush tax cuts permanent for a huge chunk of the wealthiest 2%, giving away our best leverage for staving off future cuts to Social Security, Medicare and Medicaid benefits. The deal didn't address the upcoming need to raise the debt ceiling or the triggered spending cuts (called the "sequester") set by the failed 2010 debt limit deal. So in just two months, we'll reach a crisis again, and because our best way to raise revenue (rolling back the Bush tax cuts on the wealthiest Americans) has been surrendered, we'll be in the fight of our life to protect our social safety net. There were some positive things in the bill that was passed. There was no negative change in the way cost of living increases to Social Security benefits are calculated. Unemployment benefits were extended for over two million Americans who are still looking for work. The Child Tax Credit and the Earned Income Tax Credit were extended for the next five years. And the Wind Production Tax Credit was extended for another year, to name a few. But overall, as Jim Moran said, "We're going to look back on this night and regret it." Jim Moran was joined by seven other members of the Congressional Progressive Caucus in voting no on making the Bush tax cuts permanent for Americans making over $250,000 a year. They were: Rep. Rosa DeLauro, Rep. Pete DeFazio, Rep. Earl Blumenauer, Rep. Xavier Becerra, Rep. Jim McDermott, Rep. Brad Miller and Rep. Suzanne Bonamici. In the Senate, Tom Harkin also stood up and alone on the floor of the Senate explained that permanent extension of the Bush tax cuts was an absolute deal breaker. These progressive legislators deserve our thanks. I just signed a petition thanking them, and I hope you do too. Click the link below to sign the petition.  |
