Make no mistake, the falsely titled H.R. 8, passed on August 2, 2012 by Rep. Adam Kinzinger and House Republicans is a job-killing and deficit-increasing bill that diminishes opportunity for our hard-working citizens.
Simply put, H.R. 8 extends what was legally supposed to be the temporary tax reductions passed in 2001 and 2003 by the George W. Bush administration; reductions which helped to explode the deficit and rob the treasury of funds necessary to build and maintain infrastructure, hire police officers, firefighters, teachers, and other public sector employees.
One week earlier, Senate Democrats passed a bill that extended tax breaks for individuals earning less than $200,000 and married couples making less than $250,000. Taxes would return to Clinton era levels only on those earning roughly $4,000 or more per week. Unfortunately, House Republicans seem determined to further blow up the deficit by retaining the temporary cuts to protect historically low rates for top earners.
Kinzinger, signer of the Grover Norquist tax pledge, continues to vote against the will of the American people who want job creation as a primary focus and deficit reduction attacked over time. While Kinzinger and the GOP continue to falsely refer to the very wealthy, whose tax rates they protect, as “job creators,” the other 99 percent of Americans recognize that these individuals and businesses have done nothing but hoard tax windfalls while offshoring, outsourcing, and cutting hundreds of thousands of American jobs.
Ten years of tax breaks on top earners did not produce jobs. It’s time to return to tax rates that make sense and levels that helped spark incredible economic growth for all income levels while producing a surplus in our budget. It’s time for Mr. Kinzinger and those who pledged their votes to Mr. Norquist to return their allegiance to their constituents and the betterment of the nation they swore to serve and protect.
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