Ben Nelson Cites Need For Extending The Bush Tax Cuts

By Kyle LaFleur— Talk Radio News Service

Sen. Ben Nelson (D-Neb.) said Wednesday morning that he would support the extension of the 2001 and 2003 tax cuts currently set to expire at the end of this year. 

“The possibility of tax increases is just one more reason that companies at home and across our country are holding on to cash and are hesitant to invest in new equipment, new production and new employees,” said Nelson during a discussion at the conservative Heritage Foundation.

According to the Senator, the average family in Nebraska would pay $5,000 in federal income tax if cuts were allowed to expire.

“If tax cuts are extended that family would pay $3,461 in income tax for a saving of over $1,600,” said Nelson. “There are many ways a family could use that money.” 

Nelson said he would like to use the time period after the November elections to push this extension along, hoping the deadline would move the decision through a Congress he describes as “crisis driven.”

“It’s like a pro basketball game, most of it is played in the last two minutes.  You know, tune in at the last two minutes, that’s when it’s in earnest,” Nelson said.