TALLAHASSEE, FL – The Florida Democratic Party today released the following statement on President Obama’s commitment to fighting for an extension of tax cuts for the middle class, in addition to working toward a balanced approach to reducing our nation’s deficit:
STATEMENT FROM FL DEMS CHAIR ROD SMITH:
“When Floridians went to the polls on November 6th, they sent a clear message to Washington: they want their elected leaders to cooperate to find a solution to bringing down America’s deficit and to work together to find a balanced approach. President Obama has a plan that reduces our deficit by $4 trillion. It asks the wealthiest Americans to pay their fair share and continues making the investments needed for economic growth – such as key investments in small businesses, American manufacturing, education, and clean energy. The President remains open to reaching a compromise, but throughout these discussions, his bottom line will always be a balanced approach that’s best for middle-class families.
“As we find ourselves in the holiday season, both parties should work together to pass a renewal of tax cuts for the middle class, so Florida families can have some added certainty. If we take swift action, we can avoid a blow to consumer spending, which constitutes roughly 70% of the American economy. Through an extension of middle class tax cuts, every single American will receive a tax break on the first $250,000 of their income, and income taxes will not increase for 98% of families and 97% of small businesses. But if we don’t pass an extension, hardworking families will get hit with an income tax hike of $2,200 in a matter of weeks.
“Republicans in Congress have indicated they share the President’s view that new revenue must be a part of any deal that responsibly reduces our deficit. Now they need to get serious about the specifics. Florida’s middle-class families cannot afford a tax hike at this crucial moment for our economy. It’s time for the Republican Party to come to the table and agree to a credible plan that pays down our nation’s deficit and protects the investments that will continue to grow our economy. The President is ready and willing to get down to business – working with both Democrats and Republicans to move the middle class forward.”