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Opponents argue president's selective extension of Bush-era taxes and tax hikes is flawed
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Tax cuts and you can expect blot on the floor today President Obama urging congress to pass a one year extension.
The bush tax cuts for households making less than 250000 dollars a year.
Republicans say that amounts to a tax hike on small businesses they want a one year extension for every one.
But aren't these extensions just band aids anyway why can't congress come up with a permanent fix cousin Michael -- is on the financial services committee he joins David -- Good evening how why can't first of all what's well why can't get a permanent fix our -- the other.
Well I think the answer to that a simple I think the house Republicans certainly would like to extend the bush tax cuts and make them permanent but we know the senate is not going to.
Would say agreed to that so.
Rather than just.
Have politics as usual we want to get something done and bring some certainty I think one of the biggest problems we have right now our economy.
Is that we have record uncertainty unprecedented.
And that tax is have a lot to do with -- it's not just.
The president's health care plan.
But taxes corporations small businesses don't know -- taxes are going up down so they're sitting in cash and not hiring more employees they don't know what tomorrow is going to bring.
That is not good for the economy and what it means.
He's you have a question out and we just saw that in a very dismal -- people not.
If certainty is so important to this does this is an and that's constant -- -- about it as well.
Is.
I suspect much of this -- be done a lame duck session in my right yes I -- -- bit.
Out what the which is very annoying hobby and CEO did that after you have a chance the American taxpayers have a chance to -- to weigh in on.
I -- on how it's done.
Out of it also means that there's a six month period between now and November when when you do you're losing six months to -- solve something.
Out why don't why isn't congress Republicans Democrats house senate why start working on it now and actually stay Washington did not set of weight to -- -- well.
Again I think we are willing to do that that's part of the frustration I think you're seeing of the freshman class and as a freshman can tell you one of the words I would describe.
How I feel and a lot of my cause he's frustrated.
But we're not going to be able to change its place overnight we do need to take steps to do that we are pushing but I I agree look the bottom line is.
I think that -- be overwhelming support in the house to.
He took on the Republican side to make these pop permanent let's bring the certainty that easy but it's not gonna go anywhere in the senate and that's frustrating.
Well I -- I guess -- farmer in congress and that's have been -- He's I would actually stay here almost holed on the -- and say you know I'm a stay here and work and I'm gonna shame everybody else did the same never has gone out here any.
We're here I mean that we hear all this week next week and it's and that we're not Mon August -- -- an artist.
-- and I'd be happy to stay if you told me that the -- and is willing to pass a bill I'd be here without any problem with king he'll work -- we do work a lot of hours worked seven days a week.
The frustration though is that we know what's gonna -- to set and it's just not gonna happen but.
I guess in the senate just didn't work absolutely you know if you look at the the last year and a half -- how much as the senate really done the truth is the house has been extremely active.
We've been -- a lot of bills we're big on the senate but this thinking out early on.
Very early on so we're not going to be dealing with anything controversial because it's -- An election year.
I think that's disgraceful I'm here ready to work and all of my colleagues -- -- to work but this and it just doesn't wanna do it and it is frustrating and an American people should be frustrated right now.
And they should hold this -- and is responsible.
Is there any way you would agree for just a temporary tax -- for people under two or 50000 dollars is that justice -- -- he would he would consider I think it's.
-- policy all the way around the bottom line is we -- ignoring what the real problem is the problem is.
That we spend too much we we just hit a trillion -- -- what funeral of -- trillion dollar deficits.
That's a problem that we have to deal with we don't have a tax problem the only tax from we have is that our taxes -- too high if you look across the country -- not.
We're not competitive corporate tax wise and if if you want to take those that create jobs and tax them more.
You're going to have less jobs created it's bad policy for the United States and McCain supported what I hope is to crack here I'm Dennis -- next segment because we're -- report on that's fourteen billion dollars in overpayments and unemployment benefits last year fourteen billion dollars.
I want to think of you know terms of him trying to do trying to resolve -- -- -- -- -- -- to see we know where were wasted.
From the day we got here you know freshman class talked about this week's -- For the American people they should be so.
Disgusted with the amount of waste going on the federal government and that's we should be looking to cut but every time we do.
It's like hitting a brick wall.
And it it's something that I think that both sides should really come together and I know that I'm going to try and of course the out and -- like to see a little more participation by my both sides and just as -- -- -- your former FBI agent that said that congressman that -- was a former AUS prosecutors and that your former FBI -- is secretary Colin thank you.
