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Friday, November 5, 2010

October 2010 Unemployment Remains At 9.6%; Bush Tax Cuts

Eric Cantor Uses October 2010 Jobs Report To Make Pitch For Extending Tax Cuts

The man who is expected to be the next House majority leader says that ensuring that no one faces a tax increase will help the private sector take the lead in creating jobs.

Current House Minority Whip Eric Cantor made his comments moments after the release of October's jobs report.

"On Tuesday, Americans spoke decisively about their priorities, concerns and the role government should play in their lives. It's time to produce results, and job number one is getting people back to work. We must get the 'for hire' signs out of government windows and into the windows of small businesses. To do that, we need to end the uncertainty that continues to hang over the private sector, and that starts with ensuring that no one faces a tax increase in this economy," says Cantor, a Republican from Virginia who is expected to become the next House majority leader.

The Labor Department reported Friday that the nation gained 151,000 jobs last month, with the unemployment rate holding steady at 9.6 percent, the Labor Department says. The report indicates that the private sector grew by 159,000 jobs.

"I am encouraged that the White House now seems to acknowledge that raising taxes in this environment will only make things more difficult for struggling small business people, families, and investors. In the spirit of working together and listening to the people, I hope that when Congress returns in 10 days we will pass legislation that ensures that no one faces a tax increase," added Cantor.

According to CNN national exit polls, 39 percent of Americans say the tax cuts, implemented by President George W. Bush early in his administration, should be continued for all Americans, with 37 percent saying the cuts should be continued for families making under $250,000, and 15 percent saying the tax cuts should not be extended. The cuts are currently scheduled to sunset at the end of this year.

Sources: CNN, MSNBC

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