By Ramsey Cox
Senate Minority Leader Mitch McConnell (R-Ky.) previewed the Republican argument for why their tax bill is better than the Democrats.
“In our view, the best approach to taxes right now is to let every American and every American business know they won’t have a higher income tax bill at the end of the year,” McConnell said. “We think everybody in America should have that certainty.”
The Democrats’ Middle Class Tax Cut Act, introduced by Senate Majority Leader Harry Reid (D-Nev.), would extend the Bush-era tax rates for one year for those making less than $250,000. McConnell said the Democrats’ proposal is political.
“The Democrat’s guiding principle, to the extent they have one, is different,” McConnell said on the floor Tuesday. “To them, the goal isn’t so much relief for struggling Americans or reviving the economy, it’s sending a message. And their message is that some people deserve relief and some people don’t, and they’ll decide who those people are, regardless of the effect it has on the broader economy or jobs.”
McConnell’s plan, S. 3417, would also set out guidelines for longer-term tax reform.