Sanders Opposes Tax Cut On Incomes Over $200K

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(Host) Senator Bernie Sanders is backing a plan to allocate $350 billion dollars over the next 10 years to rebuild the country’s transportation and technological infrastructure.

Sanders wants to pay for the proposal by not extending income tax cuts to people who make more than $200,000 a year.

VPR’s Bob Kinzel has more.

(Kinzel) The most heated debate of the fall congressional session is expected to take place over a bill to extend the so-called Bush income tax cuts.

While many Republicans want to continue the tax cuts for all people, most Democrats want to limit eligibility to individuals who make less than $200,000 a year.

Speaking on VPR’s Vermont Edition, Senator Bernie Sanders argued that it makes no sense to cut tax rates for wealthy people:

(Sanders) "At a time when we have the most unequal distribution of income and wealth in any major country on earth; when, during the Bush years the top two percent did extraordinarily well while they have seen a lowering – a substantial lowering – of their tax rates…  No, I don’t believe we can afford over a ten year period to give $700 billion in tax relief to the top two percent."

(Kinzel) And Sanders wants to target half of the income tax savings for a new federal infrastructure program:

(Sanders) "Let’s take that $700 billion that we gained by not renewing the tax breaks for the top two percent, let’s invest $350 billion of that in infrastructure, creating a significant number of jobs – million of jobs over a ten year period – rebuilding our roads, bridges, culverts, water systems, schools, waste water plants… transforming our energy system away from fossil fuels."

(Kinzel) Sanders says the country is slowly recovering from a serious recession and he wishes that President Omama would take more decisive steps to deal with the national economy:

(Sanders) "So have we made some progress in stabilizing the situation – creating some jobs rather than massive job loss, more financial stability rather than the verge of collapse. Yeah, we have – have we done enough? No, we have not and my criticism of the President is he is not being bold enough!"

(Host) While Senate Democratic leaders say they’re committed to limiting the size of the tax cut extension, they haven’t come out in full support of Sanders’ infrastructure plan.

For VPR News, I’m Bob Kinzel in Montpelier.

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