The number two Democrat in the House told reporters on Monday that despite its flaws, the deal between the White House and Republican lawmakers to extend the Bush-era tax cuts should be passed by Congress.
Speaking at the National Press Club, Majority Leader Steny Hoyer (D-Md.) said he opposes extending tax cuts for those who are wealthy, but argued that there are enough provisions in the deal to win his support.
“I think the outcome of the tax negotiations between President Obama and Republicans is mixed,” Hoyer said. “On one hand, I think that extending unemployment insurance, cutting payroll taxes, and keeping taxes low on income under $250,000 are all proven steps to grow the economy, help families in need, and create jobs. But I simply do not believe that the deep debt that comes from Republican upper-income and estate tax cuts is worth their minimal impact on job creation.”
“That’s why this deal is giving Democrats such pause. Having said that, I believe that action is necessary and compromise was inevitable,” he added.