Looks like taxpayers will be getting an extra gift in their Christmas stocking with the passage of a bipartisan tax deal in the U. S. House. The bill now heads to President Obama for his signature.
Both Republican 2nd District Rep. John Kline and 1st District DFL Rep. Tim Walz voted for the deal worked out between the White House and Senate Republican leader Mitch McConnell. But neither Kline nor Walz was thrilled with everything in the bill.
Here's the statement Kline released after voting for the measure.
“The legislation is far from perfect, but I am pleased the President is heeding the call of Republicans and the American people to ensure no one faces a tax increase next year. Without immediate action from Congress, tax rates for virtually all Americans who pay income taxes would rise Jan. 1, 2011. Americans deserved to know what their tax burden would be months ago, and it is disappointing that Congressional Democrats waited until the 11th hour to join us in stopping the largest tax increase in history from hitting every American taxpayer. I look forward to working in the 112th Congress as a member of the majority party where we will take further action to provide certainty that enables Minnesota families to plan and businesses to put Americans back to work.”
Here's Walz's take on the bill.
"I am disappointed with measures in this compromise that add to the debt and do not help grow our economy, such as tax cuts for millionaires and billionaires. However, while I am unhappy with several items included in this compromise, I recognize that compromise means giving some things up in return for important things you want. I cannot in good conscience vote against tax relief for the middle class, unemployment benefits, and tax incentives for renewable energy initiatives that could help create jobs in Minnesota. Minnesota families will spend those dollars at the local grocery store or putting gas in their car, putting dollars right back into our communities. That is why I decided to support this legislation."
Three member of Minnesota's congressional delegation voted against the bill — Republican Michele Bachmann and Democrats Keith Ellison and Betty McCollum. For a breakdown of what is in the bill, go here.