Daily Tax Update - July 16, 2012: Murray Calls on Republicans to "Stop Holding Middle Class Tax Cuts Hostage"

MURRAY CALLS ON REPUBLICANS TO "STOP HOLDING MIDDLE CLASS TAX CUTS HOSTAGE":  Today, in a speech to the Brookings Institution, Sen. Patty Murray (D-WA), member of the Senate Budget Committee, former chair of the bipartisan Joint Select Committee on Deficit Reduction, and a member of Senate Democratic leadership, called on Republicans to "stop holding middle class tax cuts hostage" and to "work with Democrats on a balanced replacement to defense and non-defense sequestration."

  • Murray said, "[I]f Republicans won’t work with us on a balanced approach, we are not going to get a deal.  Because I feel very strongly that we simply cannot allow middle class families and the most vulnerable Americans to bear this burden alone...  So if we can’t get a good deal, a balanced deal that calls on the wealthy to pay their fair share, then I will absolutely continue this debate into 2013 rather than lock in a long-term deal this year that throws middle class families under the bus.  And I think my party, and the American people, will support that."  Murray continued, "If the Bush tax cuts expire, every proposal will be a tax cut proposal and the pledge will no longer keep Republicans boxed in and unable to compromise...  If middle class families start seeing more money coming out of their paychecks next year—are Republicans really going to stand up and fight for new tax cuts for the rich?  Are they going to continue opposing the Democrats' middle class tax cut once the slate has been wiped clean?  I think they know this would be an untenable political position.  And I hope this pushes them to come to the table with real revenue now before being forced to the table if we don't get a deal before the New Year."  Murray added, "I think we have some good reasons to think a deal can happen before the end of the year.  I know Democrats are willing to compromise.  We just need a partner."
  • On the issue of tax reform, Murray said, "You know, I’ve also heard the claim made that we need to extend all the tax cuts to give us time to reform the tax code.  Well, we absolutely need to reform the tax code.  It's badly broken.  And I am certainly willing to discuss a fast-track process for getting that done.  But there is absolutely no reason - not one - that we need to extend the tax cuts for the rich as a precondition for reforming the tax code...  And when we do get to work on this, Republicans are going to have to accept that tax reform isn’t going to be a backdoor way for them sneak through more tax cuts for the rich.  And it is going to have to raise revenue to help rein in the deficit and debt."
  • Additional information can be accessed here.

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