"I think what this does unequivocally is end the conversation of whether this is a class effect, " says FitzGerald.

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Just before we got here, Congress did the right thing and voted to make sure that taxes would not go up on middle-class families at the end of this month. (Applause.) Congress also agreed to extend unemployment insurance for millions of Americans -- maybe some of your family members -- who are still out there looking for a job.

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To put an end to this trend, particularly for larger class actions, CAFA devised tight parameters for keeping cases out of the federal system.

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Our biggest concern is if this Congress does not act by the end of the year, taxes for middle-class families is going to go up.

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However you come down on this, it is fair to say that when it comes to taxes working class families may well end up worse off next year than they are today.

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