Congresswoman McCollum Rejects Billions in Tax Cuts for Wealthy

Press Release

This week, President Obama and Congressional Republicans negotiated a deal on extending the expiring Bush-era tax cuts and unemployment benefits. Unfortunately this agreement means that America's wealthiest individuals not only get an additional tax cut, but they also get a break on the estate tax adding $125 billion to the deficit. The total cost of the Obama compromise plan will add $900 billion to the federal deficit over the next two years.

Congresswoman McCollum immediately voiced her opposition to the deal, emphasizing that middle class America and the unemployed continue to struggle under huge economic burdens while the rich become more and more wealthy.

"This is a deal that will continue to explode the deficit while the rich get richer and struggling middle class families get crumbs," said Congresswoman McCollum. "The Republicans successfully held unemployed Americans hostage to give even more tax cuts to millionaires and billionaires. This plan is irresponsible, and I will oppose it."

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