[Congressional Record Volume 158, Number 111 (Tuesday, July 24, 2012)]
[House]
[Page H5140]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  1230
                      EXTEND MIDDLE CLASS TAX CUTS

  (Ms. HANABUSA asked and was given permission to address the House for 
1 minute.)
  Ms. HANABUSA. Mr. Speaker, both sides agree on one thing: that we 
must reduce taxes on the group of Americans that fuels our economy. We 
disagree as to who this group is. Republicans believe that it is the 
wealthy 2 percent. Democrats believe that it is the 98 percent--the 
middle class--that fuels our economy.
  The bottom line is: Do you believe that the economy is going to be 
revived top down? But really, it isn't. Rather, it's going to be a 
strong and secure middle class.
  Today, the White House released some figures.
  For Hawaii, my State, 500,000 families qualify as middle class. Do 
you know what it means? If we extend the middle class tax credits and 
tax breaks, it will mean $1,600 more per family per year. More 
importantly, what does it mean for the super wealthy? If we let those 
tax breaks expire, like they should, we will be able to reduce the 
deficit by about $1.16 trillion in 10 years.
  This is a no-brainer. Extend the middle class tax credits for those 
who really fuel our economy, and expire the Bush tax cuts.

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