House Republicans Ready to Break the Bank to Reward the Wealthiest…Again

While House Republicans may howl about deficit reduction until they are orange in the face, that ideal is being quickly tossed aside in order to reward their special interest friends and the wealthiest in our country.  Again.

The Hill:

House Republicans say they have no plans to pay for the extension of the Bush-era tax rates, a move that could erase the deficit reduction they have achieved since winning their majority in the chamber in 2010…

While President Obama and congressional Democrats want to extend only the Bush rates for middle-income earners, Republicans have long argued that the entire slate of tax rates should be kept in place…

The political problem for Republicans comes from the system used by congressional score-keepers, which projects that extending the 2001 and 2003 cuts and other income tax provisions included in the 2010 tax deal would cost roughly $2.4 trillion over a decade…

The House GOP wasn’t singing that tune last year when middle class families faced a tax hike:

Led by Speaker John Boehner (R-Ohio), House Republicans deviated from their position on paying for tax cuts when they pushed for offsetting the extension of the payroll tax break late last year…. [The Hill, 5/1]

House Democrats are committed to responsibly reducing the deficit while protecting the middle class and the Medicare guarantee.  Over and over again, Republicans have proven their top priority is showering millionaires with tax cuts.

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