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Wilmington City Council Faces Ire on Taxes
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Press Release

Wilmington City Council Faces Ire on Taxes

Article published Jun 4, 2003 in the Wilmington Star News City Council Faces Ire on Taxes Proposed pay raises, purchase of properties draw criticism The Wilmington City Council got an earful Tuesday night from a handful of residents, urging the council to cut spending.

06/04/2003
Supersize that IRA
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Press Release

Supersize that IRA

CSE Note: Treasury Assistant Secretary for Tax Policy Pamela Olsen gave a speech on Monday, June 2, that put non-taxable retirement accounts back on the agenda. She proposed Lifetime Savings Accounts (LSAs), which would combine many of the existing savings plans and give taxpayers more control over their own money. According to Olsen, these tax-free savings accounts could “fund a college education, start a business, buy a first home, save for emergencies, or used for retirement.” Taxpayers can put up to $7,500 a year into these accounts, with no restrictions on age or income. She also spoke of the need to create Employer Retirement Savings Accounts (ERSAs) which would consolidate the six existing types of plans into one. The complexity of the tax code has discouraged people from creating individual retirement accounts. In 1982, the IRS publication for individual accounts was only 12 pages long—today it is 104 pages. This complexity also reveals the lack of trust some in the government have of the ability of taxpayers to spend their own money. Low-income families especially need the ability to withdraw money from their savings accounts in the case of an emergency. 104 pages of government regulation can stop them from doing this, discouraging savings.

06/04/2003
TESTIMONY OF WAYNE T. BROUGH
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Press Release

TESTIMONY OF WAYNE T. BROUGH

Good morning. Mr. Chairman and Members of the Committee. Thank you for inviting me here today to discuss the Fair Credit Reporting Act (FCRA) and the importance of uniform national standards for sharing financial information. Citizens for a Sound Economy is a nonprofit, nonpartisan organization with approximately 280,000 members. Our mission is to educate citizens on, and to promote the adoption of, free-market policies, which we believe inure to the benefit of consumers and citizens generally. Within the framework of FCRA, the United States economy has developed an efficient and highly integrated system of sharing information that allows businesses to provide consumers a wide array of financial services and products at competitive prices. On behalf of the members and supporters of Citizens for a Sound Economy, I urge Congress not to ignore the importance of the national uniform standards and the need to extend FCRA amendments adopted in 1996.

06/04/2003
Stop Gov. Riley's Tax Increase!
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Press Release

Stop Gov. Riley's Tax Increase!

Despite the recent federal tax cut, citizens of Alabama should not count on having more money in their pockets if Governor Bob Riley has his way. That’s because Gov. Riley wants to raise taxes. He’s called a special session of the Alabama legislature to try and push through ten bills that, combined, will hike taxes by about $1.3 billion. This would be the largest tax increase in Alabama’s history!

06/02/2003
Snapshot Of The Tax Cut
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Press Release

Snapshot Of The Tax Cut

May 28, 2003, President Bush signed the Jobs and Growth Tax Reconciliation Act of 2003 to provide substantial tax relief to 136 million American taxpayers in an effort to create jobs and grow the economy. In this year alone $109 billion in tax relief will be provided to American people. Over the next ten years the costs are estimated to comprise only 1.18 percent of total revenues received by federal government.

06/02/2003
The Texas Freedom Agenda
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Press Release

The Texas Freedom Agenda

For those Texans who support the principles of lower taxes, less government, and more freedom, the 78th Legislative session in Texas was a success. Those principles were reflected in much of the legislation this session. Thanks to the legislative leadership and citizens willing to defend our economic liberty, a $9.9 billion budget shortfall was met with spending cuts and no new taxes were passed. The following are some of the highlights of the legislative session:      No Tax Increases In the wake of a budget shortfall, Texas CSE’s central concern was that legislators would try and solve the state’s financial woes with tax increases instead of responsible fiscal constraint. Texas CSE stood firmly against any tax increases and supported legislation to ease the tax burden on hard-working Texas families. Texas CSE supported the following legislation:HB 1 passed: The $116 billion state budget which for the first time in over 20 years reduced the size and scope of government.HB 2292 by Rep. Arlene Wohlgemuth passed: streamlined health and human services and is designed to reduce fraud and abuse of the system, realizing savings of one-quarter billion dollars for taxpayers! HB133 / HJR15 by Rep. Carl Isett “Reining in State Spending” did not get to the floor of the House: to limit the growth of appropriations in a biennium to not exceed the estimated rate of growth of total personal income in the state.SB 392 by Sen. Steve Ogden and Sen. Tommy Williams “Truth in Taxation” passed: relates to Texas utility districts that levy property taxes in the state, and provides for safeguards for the taxpayers requiring them to notify taxpayers in advance of proposed tax rate increases. Texas CSE helped kill legislation that would have used tax dollars to unfairly subsidize public entities:HB 262 by Rep. Steve Wolens: this bill was called by the Mayor of Dallas “the most important legislation to the City of Dallas” but would have allowed several large municipalities to use hotel occupancy taxes to guarantee bonds to finance convention center hotels and other public facilities (golf courses, parking garages, restaurants.) It would have been the ultimate irony to have private enterprise taxed to pay for public-funded ventures. Texas CSE had a study done which found that there would be no benefit to the City and significant loss to existing hotels had that legislation passed.

06/02/2003
Consumers, Credit, and Choice:
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Press Release

Consumers, Credit, and Choice:

Legislators and regulators should not be skeptical of the development of better and more efficient underwriting tools, nor should they create barriers for their use. This is especially true of credit reports, which have been shown to be a cost-effective, accurate underwriting tool for insurance companies. Restricting credit history information as an underwriting tool would result in higher costs for insurers and higher premiums for consumers.

06/02/2003
Look for Florida CSE Townhall Meetings in Your Area
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Press Release

Look for Florida CSE Townhall Meetings in Your Area

With the beginning of the new fiscal year, Florida CSE will be holding two townhall-style meetings in central and south Florida to update members with important information on the issues contained in CSE’s Freedom Agenda. On Tuesday, July 22 at 6:00pm at the TGI Friday’s Restaurant near the Orlando International Airport. If you plan to attend, you must RSVP to CSE Volunteer Chapter Leader Al Gutierrez by Saturday, July 19 so the appropriate reservations can be made in advance. Email Al at Algutierr1@aol.com.

06/02/2003
Stop Gov. Riley's Tax Increase!
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Press Release

Stop Gov. Riley's Tax Increase!

Despite the recent federal tax cut, citizens of Alabama should not count on having more money in their pockets if Governor Bob Riley has his way. That’s because Gov. Riley wants to raise taxes. He’s called a special session of the Alabama legislature to try and push through ten bills that, combined, will hike taxes by about $1.3 billion. This would be the largest tax increase in Alabama’s history!

06/02/2003
Look for Florida CSE Townhall Meetings in Your Area
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Press Release

Look for Florida CSE Townhall Meetings in Your Area

With the beginning of the new fiscal year, Florida CSE will be holding two townhall-style meetings in central and south Florida to update members with important information on the issues contained in CSE’s Freedom Agenda. On Tuesday, July 22 at 6:00pm at the TGI Friday’s Restaurant near the Orlando International Airport. If you plan to attend, you must RSVP to CSE Volunteer Chapter Leader Al Gutierrez by Saturday, July 19 so the appropriate reservations can be made in advance. Email Al at Algutierr1@aol.com.

06/02/2003

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