Conrad Backs Full Extension of Expiring Tax Cuts

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Senator Kent Conrad (D-ND), a “fiscally conservative Democrat who chairs the Senate’s budget committee, on Wednesday said he backs extending all of the tax cuts that expire this year, including for the wealthy,” Reuters reports.

"The general rule of thumb would be you’d not want to do tax changes, tax increases for as long as until the recovery is on more solid ground," Conrad said in an interview with reporters outside the Senate chambers, adding he didn’t believe the recovery is yet there.

President Barack Obama and most Democrats back extending the tax cuts enacted in 2001 and 2003 for those making less than $200,000 and for families earning $250,000 and less, but letting them expire for those above that group.

(credit image – daylife/associated press)

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1 Comment

Filed under Taxes

One response to “Conrad Backs Full Extension of Expiring Tax Cuts

  1. Parity is key here! How are the tax cuts going to be funded. It is shown that tax cuts to the middle class goes right back into the economy whereas tax cuts to the wealthy simply go toward their wealth accumulation. Wealthy already have so many more tax breaks than the less afluent. Too many already pay little to no taxes–that never happens to the middle class.

    Expire extreme, over the top; undeserved tax breaks. It’s time for the wealthy to pay their fair share.

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