For Immediate Release
January 1, 2013
Americans for Tax Fairness Statement on U.S. House Fiscal Cliff Vote
WASHINGTON, D.C. — Americans for Tax Fairness, a campaign with more than 230 national, state, and local organizations united in support of a tax system that works for all Americans, released a statement tonight by Frank Clemente, campaign manager of Americans for Tax Fairness, on passage of the American Taxpayer Relief Act voted on tonight by the U.S. House of Representatives.
“The middle-class had a major victory today — after 20 years Republicans finally let tax rates increase for the richest Americans. The sky will not fall, the economy will not crash, and Republicans who voted for it can probably even still get re-elected. This bill raises $620 billion over 10 years, but $1.5 trillion in budget cuts were already enacted last year; that means for every one dollar in new taxes there have been 2.5 dollars in spending cuts to reduce the deficit. This compromise doesn’t raise the revenue needed and address the critical tax reforms needed to fully move our economy forward. We will push hard every day in the coming months to ensure that the wealthiest Americans and big corporations pay their fair share of taxes.”