November 26, 2014 01:38 PM | Permalink |
For Immediate Release: Wednesday, November 26, 2014
Out-of-Touch Congress Moves to Pass Deficit-Financed Corporate Tax Breaks
(Washington, D.C.) Following is a statement by Robert McIntyre, director of Citizens for Tax Justice, regarding Congress’s negotiations to pass a $450 billion package of tax breaks that primarily benefit businesses.
“For the last year, we’ve seen Congress sit on their hands when it comes to moving legislation that would benefit ordinary people–legislation such as transportation funding or emergency unemployment benefits. Yet it seems the lame-duck 113th Congress is fine with its swan song being a controversial package of deficit-financed tax breaks that primarily benefit businesses.
“The election is over, but lawmakers are still accountable to their constituents. While home for the Thanksgiving holiday, they should explain to voters in their districts why it’s okay to balloon the deficit to give businesses tax breaks but not okay to help ordinary people make ends meet.
“If Congress passes this bill, President Obama should follow through with his threat to veto it.”
Read CTJ’s blog post on why this $450 billion tax package is misguided.