ANNAPOLIS, MD (June 29, 2011) – Governor Martin O’Malley today issued the following statement on President Obama’s call to reduce the nation’s deficit in a fair manner:
“More than 55 percent of the nation’s projected deficit is a direct result of the Bush era tax cuts - tax cuts that disproportionately benefit the very wealthiest 3-percent of Americans.
“A return to the Clinton-era tax rates for millionaires and billionaires is a fiscally responsible and necessary step to help put our country on solid footing for recovery. I commend President Obama for his leadership on this matter. What we need right now is to remain laser focused on creating jobs, not on protecting special interest tax breaks for the wealthiest 3-percent of Americans.
“I urge Congress to come together and work to reduce the deficit in a balanced way that benefits all Americans.”