Americans for Tax Fairness Statement on Fiscal Cliff Agreement
WASHINGTON, D.C. — Americans for Tax Fairness, a campaign with more than 230 national, state, and local organizations united in support of a tax system that works for all Americans, released a statement today by Frank Clemente, campaign manager of Americans for Tax Fairness, on deficit-reduction legislation approved by the U.S. Senate by a vote of 89 to 8.
“The American people have been very clear that it is time for the wealthiest Americans to pay their fair share of taxes. This compromise will raise $620 billion from wealthy Americans. That’s a good start, but it does not go nearly far enough due to the intransigence of the Republican Party, which has done everything in its power to thwart the wishes of the overwhelming majority of Americans. We are disappointed that this final deal does not raise taxes on the richest 2 percent – those making more than $250,000 a year – and that the estate tax has not been sufficiently strengthened so that it will affect at least 3 out of 1,000 estates held by the super-rich. Clearly, much more work is needed in coming months to ensure that the wealthiest Americans and big corporations pay their fair share.”