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On behalf of hundreds of thousands of FreedomWorks members nationwide, I urge you to VOTE “NO” on the Domestic Spending Amendment (Amendment 3) to H.R. 2642, the “Patriot Tax” amendment, to be considered as part of the Iraq war supplemental. The proposed income tax surcharge on upper income earners that purports to pay for the increased spending called for in the supplemental bill would more accurately be titled a “Small Business Tax.”
This amendment is going to be paid for on the backs of the very small businesses that create the majority of new jobs, which constantly innovate and drive our economy. This is the very sector that can least absorb more costs in our slowing economy and jobs these businesses once supplied will disappear. For that matter, no one should have to absorb higher costs under these conditions. More taxes, throwing another wrench in the gears, makes us ever less competitive in a global market and increasingly burdens families already forced to stretch dollars further and further.
Rather than raising taxes, Congress should focus on reining in spending and making the tax reductions of 2001 and 2003 permanent. In previous hard times, these tax reductions spurred economic growth and created millions of new jobs. Failing to extend or make those reductions permanent will constitute the largest tax increase in American History and will be a serious blow to the economy.
We will count your vote on the Domestic Spending Amendment as a KEY VOTE when calculating the FreedomWorks Economic Scorecard for 2008. The FreedomWorks Economic Scorecard is used to determine eligibility for the Jefferson Award, which recognizes members of Congress with voting records that support economic freedom.