Friday, September 17, 2010

31 House Democrats favor continuation of Bush tax cuts

President Obama's plan to let Bush-era tax cuts expire for wealthier Americans -- many of whom own small businesses that economists say are the No. 1 producer of new U.S. jobs -- is in jeopardy following the release of a letter signed by 31 House Democrats who are calling on Speaker of the House Nancy Pelosi to extend them.

The letter warns Pelosi and Majority Leader Steny Hoyer that "raising any taxes right now could negatively impact economic growth," adding "our economy is still recovering and decisive action needs to be taken to assist the recovery moving forward."

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