The Senate on Monday advanced a package extending tax breaks for the wealthiest Americans that was agreed to by President Obama and congressional Republicans. Sen. Bernie Sanders voted no. “It makes no sense to me to provide huge tax breaks for millionaires and billionaires while we drive up the national debt that our children and grandchildren will have to pay.” The Senate vote ended a filibuster by Sanders in which he spoke for 8 ½ hours on Friday detailing his objections to the deal.
In his statement on Monday, Sanders touched on other faults in the bill.
“I further object strenuously to the lowering of rates on the estate tax, which only benefits the top 0.3 percent, the very, very wealthiest people in this country. I also am concerned about a significant precedent which diverts $112 billion in payroll taxes away from the Social Security trust fund. Our goal now must be to strengthen Social Security, not weaken it. Of course we must extend unemployment benefits and the tax breaks that the middle class desperately needs, but in my view we could have and should have negotiated a much stronger agreement.”
The Senate is expected to vote on the bill later this week and send it to the House.
To watch the senator on MSNBC Monday, click here.