Congress to extend middle class tax cuts; US Economy

Category Economy | Wednesday, July 14th, 2010

The Congress will likely act to extend tax cuts for the middle class to avoid choking off the fragile economic recovery, key congressional Democrats said on Tuesday.

House Democratic Leader Steny Hoyer said he expected the House of Representatives to push to extend middle class tax cuts before they expire at year end, but suggested cutting taxes for the wealthy is less urgent.

“What you want to do is stimulate at this point in time, so you certainly do not want to increase taxes on the middle class, middle-income working Americans,” Hoyer told reporters.

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