[Congressional Record Volume 156, Number 133 (Wednesday, September 29, 2010)]
[House]
[Page H7217]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  1020
                           TAX CUT EXTENSIONS

  (Mr. NEAL asked and was given permission to address the House for 1 
minute.)
  Mr. NEAL. Mr. Speaker, this Democrat will tell you what we intend to 
do. We have heard a lot of conflicting opinions during the past week 
about whether to extend the tax cuts for those at the top of the 
ladder. It is difficult to break through the clutter. But what is clear 
in this basic argument is it's about fairness and the type of tax 
system that we want to create.
  A recent analysis shows at various income levels both the cumulative 
benefit of tax cuts and the 2011 benefit, if we extend the tax cuts to 
everyone. Since 2004, those earning $10,000 have received $335 in total 
tax benefits. And next year they can look forward to an additional $5 
if we extend the Bush tax cuts. Now, for someone earning more than $7 
million, we will note that they have enjoyed more than $2 million in 
tax benefits since 2004. And next year they can look forward to 
$339,000 in tax cuts if we extend the tax cut system that President 
Bush offered as-is.
  Five dollars versus $339,000? It's a basic question of fairness. The 
tax code should treat working families better.

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