|
 |
 |
|
Kaptur, Blackburn spar over Obama tax proposal
-
07/09/12 08:00 AM ET
Two prominent congresswomen provided competing characterizations of President Obama's expected announcement Monday that he is seeking a yearlong extension of the Bush-era tax cuts for those making under $250,000 in annual income.
Rep. Marsha Blackburn (R-Tenn.) blasted the proposal during an appearance Monday morning on CNN's "Starting Point," arguing that a yearlong extension would contribute to more uncertainty for small-business owners.
"One of the biggest problems we have is uncertainty about regulation, uncertainty about taxation," Blackburn said.
"We won't get it done this year, but I think next year you'll see it on the table," Blackburn said. "What people want to know is what they're looking at so they can develop a business plan."
But Rep. Marcy Kaptur (D-Ohio) said the president's plan would provide important money to apply toward federal deficits while protecting the middle class.
"The president just made a sweep through northern Ohio and talked about his desire to keep the burden on the middle class light," Kaptur said in a later interview.
The Ohio lawmaker argued that while tax cuts for the wealthy were important earlier in the Obama presidency to spur economic growth, "Now we face a little bit of a different situation.
"The economy is growing; every month we are adding jobs," Kaptur said.
Kaptur also dismissed the seeming disconnect between the president's call to set the cap for tax extensions at $250,000 while House Democrats have advocated for extending the cuts for those making under $1 million.
"At least we know we want to protect the middle class," Kaptur said. "I think where you put that line, whether it's ... $1 million and above, $250,000 and above, that's to be worked out. But I think it's pretty clear we want to keep the economy growing."
Most Viewed RSS Feed »
