Insurance Technology Industry News
[January 02, 2013]
BRIEF: Reed explains his position on tax deal vote
Jan 01, 2013 (The Providence Journal - McClatchy-Tribune Information Services via COMTEX) -- Count Rhode Island Sen. Jack Reed among the Democrats who reluctantly supported legislation to avert the fiscal cliff.
"This is not a responsible way to govern, but not compromising could hurt Rhode Islanders and plunge our economy back into a recession," Reed said in New Year's Day statement, prior to the House vote.
Reed believes President Obama should have stood firm on increasing taxes on those making more than $250,000 -- instead of $450,000 -- to reduce the deficit. But Reed says he ultimately agreed to vote for passage to spare the middle class tax increases and to protect the unemployed.
Reed led the effort to include a renewal of unemployment insurance for 2.1 million Americans, including nearly 9,000 in Rhode Island, which has the nation's second-highest unemployment rate at 10.4 percent.
___ (c)2013 The Providence Journal (Providence, R.I.) Visit The Providence Journal (Providence, R.I.) at www.projo.com Distributed by MCT Information Services
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