"Like many actions taken in Congress, the recent vote concerning the so-called “fiscal cliff” was not perfect, but it did allow our nation to avoid severe economic damage and prevented millions of residents in Texas from experiencing burdensome increases in their income tax bills.
If the measure had not passed, a Texas family of four earning $65,900 would have witnessed a $2,200 increase in their 2013 tax bill, according to budget analysts. This would have been unfair to people who struggle in an economy that is faltering.
The measure also extends unemployment insurance benefits for two million of our fellow citizens who are without jobs. They would have found themselves without any income. It expands President Obama’s expansion of the Child Tax Credit, the Earned Income Tax Credit and the American Opportunity Tax Credit, which helps families pay for college education.
The accord will raise $620 billion, according to the Congressional Joint Committee on Taxation. It achieves that goal by asking the wealthiest two percent of Americans to pay more in income taxes, an issue that was supported by the majority of voters during the most recent presidential election. Ninety-eight percent of the nation’s families and ninety-seven percent of our small businesses will not experience an increase in their tax bills. The agreement gives Congress time to raise the nation’s debt ceiling in a responsible and equitable manner.
All of the participants in our budget process now have an incentive to agree to a bipartisan compromise on deficit reduction, while protecting those who benefit from Social Security and Medicare.
There were acrimonious debates while the measure was being considered. Some very difficult decisions will have to be made by legislators in the coming weeks. We must have significant discussions about additional revenue sources. We need to consider shared sacrifices. The future of our nation, our children and their children are at stake.
I have reservations about any attempts to cut Social Security, Medicare or Medicaid benefits as some are suggesting. These programs are vitally important to millions of people in Texas. The proposed spending cuts, referred to as sequester, will do great damage to our national and state economies if we do not come up with additional sources of revenue.
I strongly oppose cuts in services to those who suffer from diabetes, end stage renal disease and other illnesses that disproportionately impact many of those who elected me to represent them in Congress. I am fully aware of the devastation these cuts would have on medical care in economically distressed communities.
I will work with the President, members of my party and members of the Republican Party to reach a solution that is fair and just for all Americans. Together we can achieve such a result. It is something that we must do to ensure our personal futures and the future of our nation." - Congresswoman Eddie Bernice Johnson
Article from North Dallas Gazette
