Pelosi: Because of Changes Democrats Have Made in Tax Policy, Americans Paid Lowest Level of Taxes Since 1950

WASHINGTON, May 11 /PRNewswire-USNewswire/ -- Speaker Nancy Pelosi issued the following statement today on a new analysis by USA Today on reports from the Bureau of Economic Analysis that last year, Americans' paid their lowest level of taxes since 1950:

"Democratic leaders in Congress and President Obama have produced the lowest tax bills for the American people in more than half-a-century.  Because of changes Democrats have made in tax policy, more than 100 million Americans have more money to support their families, consumers have more to spend at local businesses, and our middle class is reaping the rewards.

"Our economic recovery bill alone cut taxes for 98 percent of all Americans, saving taxpayers hundreds of billions of dollars, encouraging hiring, spurring innovation, and strengthening small businesses. You have to go all the way back to Harry Truman – another Democratic President – to find tax bills this low. 

"Despite all their rhetoric, when the time came to support lower taxes for 98 percent of Americans, Republicans in Congress voted 'no.'  Not a single Republican voted for tax relief, even in the midst of the greatest recession since Herbert Hoover that they created through the policies of the Bush Administration.  By siding with Wall Street, Big Banks, and special interests, Congressional Republicans threaten to reverse this progress and return us to an era of devastating job losses, fiscal irresponsibility, and financial chaos.  We will not allow that to happen." 

SOURCE Office of the Speaker of the House

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