“When I was home during the Congressional break and again last week for Thanksgiving, Nebraskans had three main priorities… job creation, extending the expiring tax cuts and tackling the nearly $14 trillion dollar federal debt. That is my agenda. Jobs. Taxes. Debt reduction.”
Senator Nelson says lawmakers have been meeting with the president about extending the tax cuts that expire at the end of the year. He is fully on-board with this effort.
“Failure is not an option. We can’t let nearly every Nebraskan wake up on New Year’s Day with a tax hike hangover. In my view, all expiring tax cuts should be extended for at least a couple of years to get our economy in full recovery. Individuals, businesses and families need consistency and clarity. They need predictability regarding taxes and other kinds of requirements they will owe next year and the year after.”
Senator Nelson says American businesses are sitting on at least one-trillion dollars and are waiting to see what Congress does before investing it. He says we can not lose that money to companies over seas.
“It will give new meaning for the old song “Over There”. The lyrics are “Send the word over there that the Yank’s are coming”. Well, the Yanks will surely be coming over there with their money and it won’t be invested here in America and that would be wrong.”
Senator Nelson is also very concerned about what will happen if action isn’t taken on the estate tax situation.
“Nebraskans also want Congress to protect our family farmers and small business owners from a large estate hike set to go into effect next year. I support full repeal of the estate tax and to insure a permanent and generous estate tax fix is passed yet this year. Nebraska’s farmers, ranchers and small businesses shouldn’t have to worry about this unfair tax burden.”
Senator Nelson says the main priorities on Capitol Hill right now need to be jobs, taxes and debt reduction.