Standing Up for the Middle Class: Setting the Record Straight on 21 Months of Reform

There's been a lot of back and forth in this election about some of what President Obama and Democrats have done over the past 21 months to move this country forward. So let's set the record straight.

Health Insurance Reform

Health insurance reform will finally hold the big health insurance companies accountable and give people more control over their own health care. It makes it illegal for health insurance companies to deny you coverage on the basis of a preexisting condition. It will stop insurance companies from putting a restrictive cap on the amount of coverage you can receive in a given year or a lifetime. It makes it possible for young people to stay on their parents' plan until the age of 26. It puts tax credits in the pockets of small business owners to help them cover the cost of health care for their workers. And it's already making a meaningful difference in the lives of New Yorkers and all Americans.

Preventing a Second Great Depression

Economists across the political spectrum agree that the Recovery Act helped pull our economy back from the brink of collapse. One third of the Recovery Act was tax relief -- including tax cuts for 95 percent of working families. Another third was emergency relief for some of the folks who've borne the brunt of this recession. That includes extending unemployment insurance to help people weather this economic storm, and extending COBRA to make health care more affordable for folks who are out of work. It also includes relief for states to help them keep essential personnel -- teachers, police officers, and firefighters -- on the job. The last third was long-term investments that are helping put Americans to work doing the work America needs done -- rebuilding our crumbling roads, rails, and runways. The Recovery Act didn't solve all of our economic problems but it's a big part of the reason our economy is in a very different place now than it was 21 months ago.

Middle Class Tax Cuts

Over the past 21 months, Democrats have put a middle class tax cut into the pockets of 95 percent of Americans and passed eight different tax cuts for small business owners, and President Obama has pledged to sign 8 more small business tax cuts into law. Democrats want to build on this record by making middle class tax cuts permanent. Republicans want to borrow $700 billion from countries like China and use it to give millionaires and billionaires a tax cut worth about $100,000 apiece. For all their talk of fiscal discipline, the Republican tax scheme would grow our deficits, while doing nothing to benefit 98 percent of Americans. We need to build an economy that rewards the many, not the few, and that's what Democrats are committed to doing.
 

Posted by New York State Democratic Committee on October 20, 2010

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