May 17, 2006
Bush Tax Bill Leaves The Middle Class Behind
A BUZZFLASH NEWS ALERT
News from the DNC:
Washington, DC – Today, amidst record deficits, rising costs for consumer items, and during a time of war, President Bush signed a tax bill that mostly benefits the wealthy and Wall Street but leaves the middle class behind. According to the non-partisan Tax Policy Center, under the new Republican law, middle-income households would only receive an average tax cut of $20. [Washington Post, 5/10/06] The $70 billion in tax cuts includes lowered taxes on dividends and most capital gains. [Bloomberg News, 5/8/06 and 5/10/06]
Democratic National Committee Communications Director Karen Finney issued the following statement on the Bush Republicans’ misplaced priorities:
“Under the failed leadership of President Bush and Republicans in Congress, wages are down, gas prices are up, deficits are at record levels and their solution is tax cuts that leave the middle class even further behind. This is just one more example of the Bush Administration’s misplaced priorities which have undermined the economic security of American families. It is no wonder that Americans no longer trust the President and Washington Republicans and want a change. Democrats have a bold agenda to restore fiscal responsibility in Washington and create jobs that will stay in America by restoring opportunity and driving innovation. Together, America can do better.”
A BUZZFLASH NEWS ALERT