Urban League: Tax Cuts Don't Go Far Enough
NEW YORK -- National Urban League President and CEO Marc H. Morial has 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.
