Democratic U.S. Reps. Mike Michaud and Chellie Pingree said Wednesday they oppose the tax-cut compromise that President Barack Obama has negotiated with congressional Republicans.

Pingree likened the deal to a fiscal hostage-taking.

“This deal is like a ransom note – Republicans are demanding that we fork over billions of dollars to the richest 3 percent in exchange for extending vital unemployment benefits and tax cuts for families that are struggling to make ends meet,” said Pingree, who represents Maine’s 1st Congressional District. “We shouldn’t cave in to their demands.”

Michaud, who represents Maine’s 2nd District, blamed Democrats and Republicans alike for being fiscally irresponsible.

“Republican leaders have made tax cuts for the wealthiest Americans their priority and to do it they are willing to add billions to our national debt, which would need to be financed by future generations and bankrolled by China; these are the same politicians that constantly highlight our mounting debt as a crisis,” he said in a statement.

“These actions are hypocritical and represent the worst of Washington.”

Both lawmakers said they favor extending the tax cuts for those earning less than $250,000 a year.
Maine’s Republican U.S. Sens. Olympia Snowe and Susan Collins have said they support extending all the tax cuts.