The Problem with the Tax Cut Compromise

National Urban League CEO: Tax Cut Compromise Doesn’t Go Far Enough

NEW YORK,  December 7, 2010 /The Black Report/ — National Urban League President and CEO Marc H. Morial today said the tax cut compromise doesn’t go far enough and called on Congressional leaders to push for a stronger deal on unemployment compensation that protects working families, the middle class and Americans who are out of work

“There’s no excuse for a package that rewards billionaires who’ve done little to create jobs at the expense of working class families who are struggling to get by,” Morial said. “If a compromise must be reached, it must include protections for the most vulnerable among us.”
Morial said unemployment benefits should be extended for two years instead of 13 months, the same period as the extension of the Bush tax cuts.

“Congress also should increase the tax cuts for those making under $250,000, because those cuts will increase consumer demand which is a driver of job creation,” Morial said.

Morial said the plan should include a full two-year payroll tax holiday, instead of one year, in order to stimulate consumer demand.

Finally, the plan should include an immediate vote on the Debt Ceiling, which is the only way to finance the plan.

“To do otherwise would be more hocus pocus economics,” Morial said.

About The National Urban League

The National Urban League is a historic civil rights organization dedicated to economic empowerment in order to elevate the standard of living in historically underserved urban communities. Founded in 1910 and headquartered in New York City, the National Urban League spearheads the efforts of its local affiliates through the development of programs, public policy research and advocacy. Today, there are more than 100 local affiliates in 36 states and the District of Columbia, providing direct services that impact and improve the lives of more than 2 million people nationwide.

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