House Votes to Extend Bush Tax Cuts for Millionaires

Tax cuts would end for hard-working women

 (Washington, D.C.)  By a largely party-line vote, the House of Representatives passed a tax bill introduced by Rep. Dave Camp (R-MI) that would extend all the Bush-era tax cuts, extend the 2010 estate tax cuts for the largest 0.3 percent of estates (estates worth over $7 million per couple), and end tax cuts for middle- and low-income families enacted as part of the American Recovery and Reinvestment Act (ARRA) of 2009.  The House rejected a bill that passed the Senate last week that would end the Bush-era tax cuts on household income above $250,000 ($200,000 for a single taxpayer) and extend the ARRA tax cuts for middle- and low-income families. The following is a statement by Nancy Duff Campbell, Co-President of the National Women’s Law Center:

“The tax bill that passed the House today is an insult to women and their families.  It extends tax cuts for millionaires – and ends them for millions of hard-working women.  The House has repeatedly voted to put programs vital to women and their families on the chopping block while giving a pass to the richest Americans.  Today they were at it again.

“Under this bill, more than one in three families with children – and three out of four low-income families with children – would lose out.  For a single mom in a minimum wage job supporting two kids, this bill would mean a loss of $1,545 from the Child Tax Credit next year.    But the richest two percent of Americans wouldn’t lose a penny of their tax cuts next year, which are worth an average of $160,000 for millionaires.  That’s an outrage.

“This fight isn’t over.  Women are watching to see who stands up for tax fairness, fiscal responsibility, and women and their families – by requiring the richest Americans to pay their fair share of taxes.”

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