Posted on July 25, 2012 Issues: Federal Tax Policy Tax & Budget

(Washington, D.C.) Today the Senate (51-48) passed the Middle Class Tax Cut Act (S. 3412).  This bill extends the Bush-era tax cuts for 98 percent of Americans who make less than $250,000 in household income but ends those tax cuts for Americans with income above that level.  Ending the Bush-era tax cuts for households with income above $250,000 would save the government nearly $1 trillion, according to Congress’ Joint Committee on Taxation.  The House will vote next week on extending the Bush-era tax cuts.

The following is a statement by National Women’s Law Center Co-President Nancy Duff Campbell:

“The Senate stood up for millions of women and their families today by passing this bill.  Women have a particular stake in ensuring that those with the greatest ability to pay contribute their fair share of taxes and that the country has the revenues needed to protect and strengthen programs that are so critical to women at every stage of their lives.  We cannot afford to give more tax breaks to those who need them least when so many women and families are struggling to make ends meet.  We urge the House to support tax fairness and fiscal responsibility by quickly joining the Senate in passing this bill.”