A Message From Tammy Baldwin 2nd US Cong District WI

At least we have one member of congress with some intelligence!!
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Dear Mr. Michaelis:

Thank you for contacting me regarding President Obama's tax compromise. It is good to hear from you.

Families in Wisconsin and throughout the nation continue to struggle with unemployment, home foreclosure, and lack of access to credit. At the same time, our nation is confronting a growing national debt. It is for these reasons that I support President Obama's proposal to extend tax cuts on income up to $250,000 a year. However, I also believe it is time to end the tax cuts for the very wealthiest Americans.

As you may know, on December 17, 2010, President Obama signed the Tax Relief, Unemployment Insurance, and Job Creation Act of 2010, into law. While the measure includes extensions of the middle class tax cut and unemployment benefits, which I support, it also extends tax cuts for the wealthiest at a total cost of $858 billion dollars over the next ten years. Unfortunately, the measure does not do enough to grow the economy, create jobs, or put us on track to confronting our nation's fiscal challenges. For these reasons, I did not support this legislation.

I am troubled that the measure provides a two year extension of tax breaks for the wealthiest Americans while it only provides a 13 month extension of unemployment compensation benefits. Unemployment benefits provide a critical lifeline to families suffering through no fault of their own. Unfortunately, while this measure supports our nation's richest Americans, it leaves behind those who are struggling to make ends meet.

I also find it troubling that the payroll tax provision was included in the act. In addition to being dangerous to the long-term fiscal health of our country, this measure threatens our most cherished social program, Social Security. The two percent payroll tax relief is drawn out of an employee's contribution to the program. While I support tax relief for workers during these difficult economic times, I do not believe that it should come at the expense of Social Security.

Despite concerns about the Tax Relief, Unemployment Insurance, and Job Creation Act of 2010, the measure includes many important provisions that may impact you or your family. Among them are: