Matt McCullough, Communications Director (202) 225-5235
WASHINGTON, D.C. – Representative Steve Southerland, II applauded today House approval of a tax cut extension package to avert a $383.6 billion tax increase by the end of this year.
“As North and Northwest Floridians fight to overcome continued economic challenges, I am committed to doing all I can to fight the historic tax increase that will occur at year’s end if the President and Senate Democrats get their way. I am pleased that a bipartisan majority of my House colleagues joined me in averting this $383.6 billion tax hike by voting to extend critical tax relief for the coming year. The American people rightly expect that Senate Majority Leader Reid will respond in a similarly decisive manner to avoid plunging our nation over the fiscal cliff at the end of this year.”
The House-passed one-year tax relief extension includes all current individual tax rates, as well as the 15 percent top rate on capital gains and dividends. The proposal would also extend for one year the estate tax rates at their current levels, the $1,000 child tax credit, marriage penalty relief and certain educational tax credits.