Neugebauer Predicts “Terrible” Impact If Bush Tax Cuts Are Not Extended

 At the end of the year, the Bush tax cuts will expire.  On Lubbock’s First News on KFYO, Congressman Randy Neugebauer was asked about comments over the weekend from the top Republican in the House, suggesting there might be a compromise with the Democrats regarding taxes.

“Our economy is very weak right now,” Neugebauer said.  ” We’ve seen the job report continues to show no job growth.  In fact the unemployment rate increased a little bit.  This is just not the time to raise taxes.”

And the impact on the economy if the Bush tax cuts are not extended?

“I think it will be terrible.”