Research Briefing

Democrat Rep. Gerry Connolly Says Economy Is Too “Fragile” For Dems’ Proposed Tax Hikes

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Rep. Gerald Connolly Says Economy Cannot Take “Any Kind Of  Severe Hit” That Would Come From Dems’ Proposed Tax Hikes. CONNOLLY: “We’re at a very fragile point in the economic recovery right now, and I think we ought to leave well enough alone for now. I don't think this economy can take any kind of severe hit. When you, when you allow the tax cuts to expire on a relatively small but highly influential group in the economy, it can affect confidence in the consuming public, it can absolutely affect the economic performance. A stunning statistic, Jenna, is that the top 5 percent income earners generate 30 percent of consumer activity. We can't afford to be negatively affecting that right now.”  (Fox News’ “Happening Now,” 7/27/10)