House extends Middle Class tax cuts

The U.S. House on Thursday extended the Bush-era tax tax cuts for the Middle Class, but some members of Congress say the move didn't go far enough toward helping small businesses.

“This measure will help ensure that seniors can make ends meet in this challenging economic environment,” U.S. Rep. Sanford Bishop, D-Ga., said in a statement. “Unfortunately, this measure does not go far enough.

“Given the current state of our fragile economic recovery, now is not the time to raise taxes on any American,” Bishop said. “Businesses large and small are still having difficulty creating new jobs, training their workers, and growing for the future.  I remain deeply concerned that raising taxes on those businesses would further impede job creation and punish success at a time when we should be encouraging the entrepreneurial spirit.”