Providence, RI – Following President Obama’s speech today about the need to find a solution to the so-called “fiscal cliff” before the end of this year, U.S. Senator Sheldon Whitehouse (D-RI) released the statement below:
“My top priority in the coming weeks is to protect middle-class Rhode Islanders from income tax hikes, and I agree with the President that we should move quickly to do so. In fact, the Senate has already passed legislation to shield 98 percent of families and 97 percent of small businesses from any income tax increases. Unfortunately, House Republicans have held middle-class tax cuts hostage in order to preserve lower tax rates for the top two percent. That approach was rejected on Tuesday by voters in Rhode Island and throughout the country, and I hope my Republican colleagues will now be willing to join with us in asking the wealthiest Americans to pay a fair share in taxes in order to keep our economy strong.”
Senator Whitehouse is the lead sponsor of the Paying a Fair Share Act, legislation that would implement the Buffett Rule to make sure multi-million-dollar earners pay a minimum tax rate of 30 percent.