House Minority Leader Nancy Pelosi today urged Speaker John Boehner to bring up a vote on extending tax cuts for middle-class income earners “as early as next week,” when the House returns from recess.
“By ensuring that the middle-income tax cuts do not expire, we will put money into the pockets of American consumers, saving the typical middle-income family thousands of dollars per year,” the California Democrat wrote in a letter released today.
Pelosi is reiterating calls by Democratic leaders to allow the 2001 and 2003 tax cuts to expire for high income earners but extend them for middle-class income earners. She argues that allowing the same tax cuts to expire for high income earners could help pay down the deficit.
Pelosi’s proposal would allow tax rates to increase for individuals earning more than $1 million per year and use the revenues from those rate increases to reduce the federal deficit.
The letter strikes a more optimistic tone than that of Senate Majority Leader Harry Reid, who on Tuesday sent a terse letter to Senate Republicans saying he does not see a way to reach bipartisan agreement on deficit reduction or taxes before the November elections.
Michael Steel, a spokesman for Boehner, said the Ohio Republican “has already announced that the House will act to stop the tax hike on every American taxpayer.”
Republicans are proposing to extend all the tax cuts.
Hillary Rodham Clinton, center, along with former Secretary of State Madeleine Albright, right, and Annette Tilleman-Dick, left, wife for former Rep. Tom Lanots, D-Calif. Clinton was honored with the Tom Lantos Human Rights Prize during a ceremony last week at the Cannon House Office Building. Previous winners include the Dalai Lama and Elie Wiesel.
Each year since 1990, CQ Roll Call has reviewed the financial disclosures of all 541 senators, representatives and delegates to determine the 50 richest members of Congress. This year's report, derived from forms covering the calendar year 2012, shows it took a net worth of $6.67 million to crack the exclusive club.