Reply #6: The Congressional Black Caucus also proposed a payroll tax holiday

[ProSense]

Congressional Black Caucus opposes Obama on tax-cut package

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In outlining the CBC's objections to the package, Lee said that the "vast majority" of CBC members are opposed to the estate tax provision and the extension of the tax cuts for the wealthy and are worried that the spending cuts that could follow the package might hit the poor especially hard.

"We understand that there are tough choices that will need to be made next year and we are extremely concerned that the cuts that could be made should this package pass would disproportionately hurt the poor and low-income communities and further erode the safety net," Lee said.

The CBC's counter-proposal showed few signs of members giving up ground. The proposal includes a two-year extension of the Bush-era tax cuts for the middle class -- which was part of the tax-cut measure that the House passed this month -- as well as a payroll tax holiday and a 13-month extension of unemployment insurance benefits. All three components are priorities for congressional Democrats.

CBC members said that their plan would cost less than half of what the plan negotiated by Obama and Republicans would cost and create about the same number of jobs.

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