Wednesday, December 8, 2010

Senator Mark Udall disagrees with Obama – will oppose extending tax cuts

Tuesday, U.S. Senator Mark Udall issued a statement regarding the deal struck between President Obama and Republican leaders over extending the Bush-era tax cuts:

'Just last week, a bipartisan group appointed by the President called our national debt a ‘cancer' that is threatening our country from within. As I've said for many years, our looming debt is perhaps the greatest challenge to our economy and our national security. Now, exactly four days later, we are being asked by the President to add $900 billion to that debt over the next two years.

'I feel like we are suffering from the worst possible case of collective short-term memory loss. The cost of extending tax breaks for millionaires alone is $700 billion over the next decade. As I've said many times - I believe there are better ways to strengthen the economy than extending tax breaks for those making over $250 thousand a year.

‘I agree with the President that we need to make progress on the question of whether to extend the Bush tax cuts - and like him, I believe this is an issue that is critical to our economy. But that is the extent of our agreement. While I still want to examine the details, my first response to this proposal is to be opposed.

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