Immediate Release: January 1, 2012
WASHINGTON, D.C. – Congressman Jim McDermott (D-WA) released the following statement on his vote on the so-called ‘fiscal cliff.’
“This week we voted on the tax portion of the manufactured ‘fiscal cliff.’ This agreement won’t create jobs, but it does have some important measures in it like a 1-year extension of unemployment. I voted “no” because it does not generate the revenue necessary to invest in people and help the poor, and it enshrined in law the very irresponsible Bush Tax Cuts. It is hard for me to understand how the new definition for “middle class” has become $400k of income a year. This agreement locks in a tax structure that helps the wealthy more than the middle class and only gives temporary relief to everyone else.
“In our biggest chance to make our income, estate and investment taxes more progressive and fairer, we did not do nearly enough. And by doing this tax bill in isolation, the Republicans are now enthusiastically talking about driving the country into bankruptcy at the end of February when we will hit the debt ceiling.
“I am for compromise and sensible governing – and this new tax law is bad policy that will make governing more difficult.”