Families spared fiscal cliff tax hikes: NCLR, CHC
WASHINGTON, D.C.—Last night, Congress approved a plan to extend tax relief for middle-and working-class families and avert the consequences of the fiscal cliff. While the deal includes some compromises and leaves sequestration to be dealt with in the next congressional session, NCLR (National Council of La Raza) supports the overall plan, which meets many of our stated principles for a fair and prosperous economy.
“We applaud the White House and Congress for working together to deliver a fair approach to reducing our deficit that doesn’t come at the expense of vulnerable, working and middle-class families,” said Janet Murguía, President and CEO of NCLR. “The overall tax plan passed today is a strong first step toward ensuring that the burden of deficit reduction is shared more fairly, without jeopardizing the health of our economy and the financial security of Latinos and other vulnerable communities.”
Congressman Charles A. Gonzalez (TX 20), Chair of the Congressional Hispanic Caucus (CHC):
“The Congressional Hispanic Caucus is relieved that 114 million middle class households will have their tax rates maintained and that other working families tax credits will continue permanently. President Obama has kept his promise to protect the most vulnerable American families from further economic hardship. Additionally, 2 million Americans who are looking for work will not suffer cuts to emergency unemployment insurance. In 2013 and the 113th Congress, the CHC looks forward to building on this first step and working toward income tax code reform, President Obama’s jobs bill and comprehensive immigration reform, all of which will add to our economic recovery.”
Congresswoman Lucille Roybal-Allard:
“I am pleased that we were able to pass a bipartisan compromise to protect middle class individuals and families from being hit with a major tax increase,” said Congresswoman Roybal-Allard. “Although I am gratified we were able to find a way to compromise to protect hard working Americans and those working hard to find employment, I am disappointed that we have yet to reach agreement on further efforts to get the economy moving and create jobs. I hope that as the new Congress convenes we can redouble our efforts to get the economy back on track for the sake of the millions of Americans that remain unemployed.”
Gerry Rice, Director of External Relations at the International Monetary Fund (IMF):
“We welcome the action by the U.S. Congress to avoid sudden tax increases and spending cuts, including through an extension of unemployment benefits during 2013. In the absence of Congressional action the economic recovery would have been derailed.
“However, more remains to be done to put U.S. public finances back on a sustainable path without harming the still fragile recovery. Specifically, a comprehensive plan that ensures both higher revenues and containment of entitlement spending over the medium term should be approved as soon as possible. In addition, it is crucial to raise the debt ceiling expeditiously and remove remaining uncertainties about the spending sequester and expiring appropriation bills.”