Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010

Floor Speech

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Mr. BISHOP of Georgia. Mr. Chair, our economy is still very weak: over 75 percent of American workers are living paycheck-to-paycheck. The unemployment rate stands at 9.8 percent, and over eight million Americans are subsisting on unemployment insurance benefits while they search for work. In Georgia alone, the unemployment rate is over 10 percent. 67,000 additional Georgians filed for unemployment insurance last month. Despite these sobering numbers, our nation is on a dangerous path toward the largest tax increase in over a decade if we do not approve this vital legislation before us today.

We must not let this happen. We must change course. Our nation's workers, retirees, businesses, and job-seekers simply cannot afford the crushing burden of new taxes in today's economy. Raising taxes in this economic environment would stifle investment, slow down job creation, and put severe financial strain on businesses and individuals.

This bipartisan legislation confronts this reality. It temporarily continues the Bush Tax Cuts for the benefit of all Americans. It provides a desperately needed extension of unemployment insurance benefits. It reduces the crushing burden of the estate tax on our nation's family farms and businesses. And it puts money back into the paychecks of America's workers.

I urge my colleagues to take action and vote to send this legislation to the President's desk. Now is the time to act. We owe it to our constituents and to our nation not to let their taxes go up on New Year's Day.

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