Moran Statement on Speaker Boehner’s “Plan B” Proposal
Washington, DC – Congressman Jim Moran, Northern Virginia Democrat, released the following statement on House Speaker John Boehner’s “Plan B” proposal, which may be voted on this evening:
“The Speaker’s supposed “plan” is not a serious, good faith attempt to avert the fiscal cliff. Pursuing this approach has only made a deal less likely. While it wouldn’t resolve our fiscal situation, it does clarify Republicans’ top priority: protecting the “one percent,” the super rich, at the expense of working Americans.
“According to the non-partisan Tax Policy Center, while “Plan B” raises marginal tax rates above $1 million, it actually maintains generous and unnecessary tax cuts for millionaires - giving those earning $1 million or more an average tax cut of $108,500.
“One way Boehner’s ‘Plan B’ accomplishes this is by repealing the ‘Pease provision,’ which limits itemized deductions for high earners. Few middle-class Americans have heard of this somewhat arcane tax policy, but the wealthiest and their accountants know exactly how much money they stand to gain from the continuation of this giveaway.
“The American people resoundingly rejected this Republican approach in November. They are depending on Congress to do our jobs and craft a balanced compromise that addresses the fiscal cliff and strengthens the economy. I strongly encourage Republicans to rejoin talks with President Obama, which had been making progress until Speaker Boehner abruptly pulled out of negotiations on Monday. If we continue on the current path, we are not going to reach a compromise, the economy will suffer serious damage, the American people will rightly be infuriated, and once again, Congress will be exposed for the broken legislative body it has become.
“Democrats have been ready, willing, and able to negotiate a deal. But we can’t negotiate with ourselves. It’s time for Republicans to come back to the table.”