newswebb tax deal will reinvigorate u s economy

Webb: Tax deal will reinvigorate U.S. economy


U.S. Sen. Jim Webb, D-Va., is on board with the bipartisan effort being led by President Obama to reach consensus on a two-year extenion of Bush-era tax cuts and an extension of benefits to the long-term unemployed.

“The framework agreement for tax cuts and extended unemployment insurance shows great promise in reinvigorating our economy and putting people back to work,” Webb said in a statement Wednesday.

Webb, calling the proposal “the ultimate stimulus plan,” said the agreement will “put more money directly into the pockets of people and small businesses, allowing that money to be quickly recycled as the economy expands” and that it will “provide greater certainty for business and investment planning and extend several programs that effectively serve working Americans and lower-income families.”

Webb, in the statement, urged quick action. “Failing to act now will result in higher taxes for almost all Americans starting on Jan. 1st – an unacceptable result for an economy that remains fragile and in danger of further job losses,” the senator said.

“No one will agree with every provision in the proposed agreement. The simple reality is that the American people, and particularly those who are out of work, cannot afford to wait while politics-as-usual blocks an effective, bipartisan plan to stimulate the economy and restore growth,” Webb said.

Story by Chris Graham. Chris can be reached at [email protected].



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