Robert Scott Statement on Extension of Bush-Era Tax Cuts

August 4, 2012

Congressman Robert C. "Bobby" Scott (D-Virginia) issued the following statement on H.R. 8, the Job Protection and Recession Prevention Act:

"This legislation irresponsibly extends all the tax cuts enacted in 2001 and 2003. I voted against this bill because we simply cannot afford to continue extending tax cuts and at the same time put Social Security, Medicare, and our nation's defense in jeopardy to pay for these cuts.

"Earlier this week, three Republican Senators were in Norfolk complaining about the negative effect that the 'Sequester' will have on our nation's defense and the Hampton Roads' economy. It will cost $1 trillion to offset the Sequester so our challenge is to find $1 trillion in deficit reduction in order to avoid the Sequester.

"However, today the Republicans who can't find $1 trillion to cancel the Sequester voted in favor of $4 trillion in tax cuts. I believe we should cancel the Sequester first and then if there is any money left over, we might be able to enjoy some tax cuts. But the extension of $4 trillion in tax credits makes the Sequester arithmetically unavoidable."