Rep. Chris Gibson, siding with his fellow Republican ideologues in the House, voted yesterday to extend the Bush-era tax cuts for another year. The tax cuts disproportionately favor the wealthy, so the Senate had voted to extend the cuts for everyone except those with income, capital gains or dividends totaling more than $250,000. This would have raised much-needed governmental revenues by around $100 billion.
Without a Congressional agreement, an economic crisis still looms in January, when more than $500 billion in tax cuts are set to expire.
Gibson’s pro-rich vote contrasts markedly with that of his competitor for Congress in NY-19, Julian Schreibman. Schreibman specifically supports an end to tax cuts for the super-wealthy—and that’s one more reason for us to support Schreibman, now and in November.