Democratic Rep. Harry Teague, in a close race with former Republican Congressman Steve Pearce, has signaled his support for extending the Bush tax cuts for the highest-earning Americans. Teague this week signed a letter to Speaker of the House Nancy Pelosi, D-Cali., along with 31 other conservative Democrats, expressing their opposition to letting tax breaks for the wealthy expire on time.
“In recent weeks, we have heard from a diverse spectrum of economists, small business owners, and families who have voiced concerns that raising any taxes right now could negatively impact economic growth,” Rep. Melissa Bean, D-Ill., wrote in the letter Teague co-signed with Teague.
At question are the tax breaks for the highest rate of earners that were passed in 2001. President Barack Obama campaigned on and has proposed letting the tax breaks on those making $250,000 or more expire on time. The tax cuts on those making less would be extended.
“We urge the quick passage of legislation to extend the tax cuts so that American families and businesses have the certainty required to plan and make informed decisions,” the letter sent to Pelosi read. “The sooner we act, the sooner our nation’s economy will benefit.”
According to the Albuquerque Journal, the other two New Mexico Representatives, Martin Heinrich and Ben Ray Lujan, support letting the tax breaks for the wealthiest Americans expire. So do both of New Mexico’s Senators, Jeff Bingaman and Tom Udall. All of the members of New Mexico’s federal delegation are Democrats.