Sen. Udall votes ‘no’ on extending tax cuts
DENVER — The tax cut bill has apparently gained enough support in the U.S. Senate to pass, but Colorado Democrat Mark Udall still hopes he and other opponents can win changes to lessen the effect on the country’s debt.
Udall voted against the bill today because he opposes extending tax cuts for the wealthy, estimated to cost $700 billion. He supports continuing tax cuts for the middle class and extending jobless benefits.
Udall says tax breaks for the wealthiest Americans don’t create jobs. He says the cuts have been in place for about a decade, yet foreclosures and unemployment are high and average incomes are dropping.
The bill is a compromise between the White House and Republicans to keep the tax breaks from expiring Jan. 1.