Today, Vice President Joe Biden visited a newly opened Costco in Washington, DC. After picking out a few Christmas gifts and other items, he talked about the importance of extending tax cuts for middle-class families.
“All the people you meet in here today and you see, these are hardworking folks who don't need to see their taxes go up,” he said.
But, if Congress doesn’t take action before the end of the year, the typical middle-class family will pay about $2,200 more in taxes starting in 2013.
“And so I think it’s important Congress acts now -- I mean right now,” Vice President Biden said. “All it has to do is take a single vote to extend the middle-class tax cut.”
Giving families some certainty that their taxes won’t go up next year is important, especially during this busy holiday shopping season when many businesses count on increased sales.
“Consumer confidence is growing,” the Vice President said. “The last thing we need to do is dash that now by being unable to extend the middle-class tax cuts."
Tell us what paying $2,000 more in taxes next year would mean for your family. You can also share your story on Facebook or on Twitter using the hashtag #My2K.