WASHINGTON - Ways and Means Committee Ranking Member Sander Levin (D-MI) today issued the following statement regarding the tax proposals that President Obama plans to unveil during his State of the Union address on Tuesday:
"The President's tax proposals focus right where we need to - creating opportunity for middle class families and those struggling to join the middle class. By seeking to address economic inefficiencies, including in our capital gains structure, and targeting these revenues toward investment in education and support for working parents, the President's proposals would address the key issue of wage stagnation for most families and strengthen our nation's road to recovery."
The chart below from the Economic Policy Institute was presented at last week's hearing on the economy before the Ways and Means Committee, highlighting middle class wage stagnation over the last three decades:
