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Press Release

    Key Vote NO on HR 3996, Temporary Tax Relief for Some, Permanent Tax Hikes for Others

    11/05/2007

    On behalf of our 850,000 FreedomWorks members and supporters nationwide, I write to urge you to VOTE NO on HR 3996, “The Temporary Tax Relief Act.” The gist of this bill is that it is temporary tax relief for some, while it includes permanent tax hikes on others. While we like the idea of fixing the AMT for another year, a better option would be permanently abolishing it for good. This is exactly what the alternative AMT bill would do. I am referring here to “The Taxpayer Choice Act” sponsored by Rep. Jeb Hensarling and other bold members of the Republican Study Committee. This bill would provide for an optional two-tiered flat tax that would make compliance much easier, and represents a fairer, flatter approach to tax policy.

    But HR 3996, “The Temporary Tax Relief Act”, contains bad economic policy provisions like a tax hike on carried interest and private equity, a tax increase on expatriates and a tax hike on deferred compensation. It also delays another tax cut for 8 years, which is, essentially, a tax increase. Good public policy demands that Congress relieve taxpayers of the current burden, while not looking to “offset” the revenue through other tax hikes.

    Legislators who want to provide real tax relief while also injecting capital into our economy will sign on to the “Taxpayer Choice Act” and reject HR 3996, “The Temporary Tax Relief Act.”

    FreedomWorks will count your vote as a KEY VOTE when calculating the FreedomWorks Economic Scorecard. The FreedomWorks Economic Scorecard is used to determine eligibility for the Jefferson Award, which recognizes legislators who demonstrate voting records in support of economic freedom.

    Sincerely,

    Matt Kibbe
    President and CEO
    FreedomWorks