Institutionalizes Uncertainty in the Tax System
WASHINGTON, DC – As the moves forward with consideration of legislation to extend lower tax rates and unemployment benefits for 13 months, Oversight and Government Reform Committee Ranking Member Darrell Issa today issued the following statement:
“For nearly two years, President Obama and House Speaker Pelosi have failed to pursue an effective strategy to improve the economy and create jobs. As a result of this failure, Congress now finds itself in a divisive, eleventh-hour debate over a ‘compromise’ proposal to temporarily extend current tax rates and unemployment benefits.]
“The bill passed by the Senate is an incomplete effort that fails to create a permanent tax structure giving businesses the kind of long term predictability needed to support investment, economic growth and job creation. While it does accomplish the important short-term goal of avoiding massive and immediate tax increases that would harm our economy and kill more jobs, the policy of institutionalizing uncertainty in our tax system could limit the pace of an economic recovery.
“While my vote will ultimately depend on the final bill brought to the floor of the House, the flawed last minute consideration of this proposal underscores the need for Congress to act decisively in the new year to support job creation, curb government spending and enact permanent tax reform.”