Politics & Policy

Markey, Salazar, 42 Other Dems Support Certain Bush Tax Cuts

Left-leaning Talking Points Memo has a list of 44 Democratic House members urging the extension of tax cuts on capital gains and dividend taxes, with Rep. John Salazar (CO-3) and Rep. Betsy Markey (CO-4) joining a few of their colleagues in the House:

The hits just keep coming.

As TPM first reported last week, Rep. John Adler (D-NJ) has been rounding up signatures on a letter to Speaker Nancy Pelosi, urging her to extend more than just the upper-income Bush tax cuts, passed in 2001. In addition, Adler and his crew want to extend the 15 percent rate on capital gains and dividend taxes, created by the 2003 Bush tax cuts. Other media outlets have since picked up on the story, and now Adler’s effort is gaining steam.

A source sent over a list of 44 Democrats who have signed on to the letter. That would be enough to tip the balance if these tax cuts come up for a vote before the end of this Congress. Pelosi has a great deal of discretion over whether that happens but, as we’ve seen today, the Democratic party doesn’t have an overwhelming desire to take a stand on letting any of Bush’s tax cuts expire.

The Wall Street Journal has an excerpt of the letter:

“Our economy is fragile…Raising taxes on capital gains and dividends could discourage individuals and businesses from saving and investing,” states a draft of the letter provided by Adler’s office.

“Raising taxes on anybody at this time is a bad idea.  Unemployment is at a record high, and we’re still digging ourselves out of the recession.  Betsy Markey’s refusal to stop the Obama tax hikes on working families and small businesses just shows she is out of touch with the American people,” said Rachel Boxer, spokeswoman for GOP challenger Cory Gardner, to BATTLE ‘10.

Sean Walsh, spokesman for Scott Tipton, told BATTLE ‘10, “As House Democrats – including Congressman John Salazar – haggle and dither over which of us American taxpayers can keep more of our paychecks and for how long, Scott Tipton has taken a clear cut, consistent position – the Bush tax cuts should be made permanent, period. Anything less will amount to a tax increase on an already over-taxed public.”

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