Washington, D.C. - Congressman Dave Loebsack released the following statement today after the House of Representatives failed to pass legislation to stop the impending tax hikes and going over the fiscal cliff at midnight tonight. Earlier this year, Loebsack introduced compromise legislation that would preserve tax cuts for middle class families, small businesses, and family farms in order to avoid going over the fiscal cliff.
"The failure by Congress to act and avoid going over the fiscal cliff is deeply disappointing. Unless a fair resolution to this crisis is found immediately, this inaction will undercut our struggling economy and the foundation of economic growth - middle class families. By refusing to act, Washington is once again taking our economy to the brink. Washington must be working to boost our economy, not undermining economic growth.
"We reached this point because of Washington`s failure to act. Our economy is not a political game. I remain hopeful that a deal can be reached and middle class Iowans will be spared."
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