WASHINGTON – Congressman Harold Ford Jr. released the following statement today regarding his vote on "the tax cut bill for millionaires":
“I voted no today on an additional round of tax cuts for people earning more than $1.2 million a year because the country is fighting two wars, running a record deficit and financing the rebuilding of the Katrina battered Gulf Coast.
"Today's vote is one more example of how divorced Congress and national politics are from the day to day realities of Tennessee business owners, seniors, farmers, workers, students and parents.
“At a time when middle class families in Tennessee - a state where almost 95% of households earn under $100,000 - are working to get ahead, now is not the time to run up more national debt.
“Furthermore, as a senior military officer shared with me, this is the first time the country has cut taxes, spent uncontrollably and fought and paid for two wars at the same time.
“I voted instead for the Democratic alternative, which provided $43 billion in tax relief for working Tennesseans and entrepreneurs, all without adding a dime to the deficit. The bill would bring high paying jobs to Tennessee through a tax credit for research and development and a break to restaurant owners who improve their operations. And most important for all Tennesseans, it would have protected the ability to deduct state and local sales from federal tax bills.
“For these reasons, I voted no on the leadership's bill. It was the responsible thing to do for the future of this country.”