Lower Taxes for Americans Thanks to the Recovery Act

WASHINGTON, DC – House Majority Whip James E. Clyburn today released the following statement after a new analysis of federal data by USA Today revealed that the American Recovery and Reinvestment Act, which cut taxes for 98 percent of all Americans, helped bring down tax bills to the lowest level since 1950.

“Thanks to the American Recovery and Reinvestment Act, Americans tax bills are at the lowest level since 1950 and last month we saw the largest gain in jobs since March of 2006. This news further highlights that the Recovery Act is doing what it’s supposed to do, create jobs and ease Americans’ tax burden.

“In addition we’re focused on reducing the deficit, through the President’s National Commission on Fiscal Responsibility and Reform; making the pay-as-you-go budget principle the law of the land; enacting historic health care reform legislation the largest deficit reduction bill in almost two decades; and implementing critical reforms that go after waste, fraud and abuse in areas beyond the Pentagon.

“While Democrats in Congress are working hard to put Americans back to work, cut taxes, and reduce the deficit Congressional Republicans continue to push for the policies of the past that brought us the worst economic crisis since the Great Depression and a loss of 8 million jobs.

“While I welcome today’s news, our work to strengthen our economy and get Americans working again is far from over.  Democrats and President Obama are committed to passing legislation to reform Wall Street, create jobs, and establish a sound economic foundation to protect Main Street and the middle class.”