Last night, Congress passed an agreement to avert the fiscal cliff and prevent taxes from increasing for middle-class families and businesses in Maryland and throughout our country. While the agreement was not perfect and not what any one of us would have written on our own, it was a compromise that I supported because it provided certainty to Fifth District families and businesses that they would not see a $2,200 tax hike this year.
However, our work to reduce the deficit in a balanced way is far from over. The agreement passed last night gives Congress additional time to prevent the automatic spending cuts imposed by the sequester. We should use that time to work on a bipartisan agreement to replace those arbitrary spending cuts with a balanced deficit reduction plan that contains both spending cuts and revenues. Failure to do so would have a harmful impact on our region and every community affected by defense spending.
I’m convinced that we can prevent those harmful cuts if both parties work together, and I will be urging my colleagues in the 113th Congress to reach agreement on a balanced, responsible plan that will put us on a path toward fiscal sustainability and economic growth.
As always, thank you for allowing me to share this update with you, and please continue to share your concerns and insights with me by contacting my office or connecting with me on Facebook, Twitter, or YouTube.