New Mexico Senators Vote Against Tax Package

Sens. Jeff Bingaman and Tom Udall, both Democrats, were among just 19 senators to vote against a major tax bill that cleared
the Senate today.

The New Mexico lawmakers had been signaling their
opposition to the legislation, which maintains Bush-era income tax for all
Americans – including the wealthiest – for days.

The bill, which cleared the Senate 81-19, will now be sent
to the House of Representatives for consideration.

Here are statements from Bingaman and Udall:

BINGAMAN:

“In recent weeks, we’ve had several expert commissions tell
us that we need to get the debt under control – and they have offered thoughtful,
practical proposals,” Bingaman said. “This bill is our first chance to begin
considering their recommendations, and I see no evidence that we have taken
those ideas into account. 

“There are some positive provisions to strengthen our
economic recovery, but the bill on the whole moves us in the wrong direction
with regard to our other major problem of budget deficits.  On that issue,
it will start the 112th Congress off on the wrong track.  For those
reasons, I opposed this bill,” Bingaman said. 

UDALL:

“While I understand the value of a compromise, the literal
costs of this deal to future generations of Americans is too much to concede,”
Udall said. “With a depressed economy and high unemployment we should be
finding ways to create jobs, pull America’s
middle class from the edge and bolster our economy. Instead, this proposal will
drive our national deficit upwards another $900 billion without any evidence
that the deal struck would help our economy in the long-term.

“In fact, economic experts point to the contrary.  In terms of stimulating
the economy, tax cuts for millionaires and billionaires is not an effective
strategy.  And a compromise that significantly increases our already
unsustainable debt while failing to spark job growth and the economy isn’t much
of a compromise at all, and certainly not one I can support.”

You can watch Bingaman’s floor speech on the issue here.