Expiring tax credits would hurt middle class

In 2001, Sen. Chuck Grassley wrote a bill reducing the tax burden on the low- and middle-income families. It removed millions of low-income families from the federal tax rolls completely, and increased the federal child tax credit from $500 to $1,000. That helps every family with children. We also got relief from the marriage penalty tax.

Grassley also helped get us the loan deduction credit/student loan interest deduction. This is all assistance to hard-working families trying to better themselves, not “the rich.”

President Barack Obama and 2nd District Iowa Rep. Dave Loebsack are threatening to let the tax credits expire. This is outrageous considering the impact on working families. For a family of four, with two children, making $50,000 a year, more than $2,000 would be added to our taxes if all the tax cuts expire.

More than 6 million lower-income families will be re-added to the federal tax rolls. A 10 percent tax increase would go into place affecting every tax bracket, not just the rich. Family disposable income would drop, further negatively affecting the economy.

Last, but not least, higher taxes make it much more difficult for businesses to hire and may force layoffs. With 16 percent to 17 percent real unemployment, we can't afford this.

Why don't liberals, like Grassley's challenger, Roxanne Conlin, understand that higher taxes stunt the economy and result in higher unemployment? Liberals scream that Republicans are the party of the rich, but Conlin is wealthy by any standard.

I support Grassley for his decisions.

Deborah Thornton

Iowa City