Making Tax Cuts Permanent

Week in Summary: This week being ‘tax week’ the House will take up legislation to make permanent the tax benefits enacted by the Economic Growth and Tax Relief Act of 2001. This legislation is desperately needed to get our economy back on track and is featured below in the issues in-depth section. The House will also consider H.R. 476, the “Child Custody Protection Act.” This bill would make it a crime to take a pregnant minor across state lines for an abortion.

The Senate meanwhile will be considering two separate pieces of legislation. Since partisan bickering has significantly slowed the Senate’s floor schedule, they decided to move to a ‘dual-track’ procedure. Therefore while they will resume consideration of the energy bill which has technically been on the floor for over two months now, they will also consider H.R. 3525, the “Border Security Act.” H.R. 3525, which passed the House by a voice vote, would tighten security at the nation’s borders and ports of entry.

Issue In-Depth – Making Tax Cuts Permanent

Last year, President Bush and the Republican Congress provided the American people with the largest tax cut in a generation. Supported by a majority of Americans, this tax relief enjoyed national support for several reasons. Most importantly, the Bush tax cut included across-the-board cuts. In the recent past, tax bills only benefited a few, select constituencies. However, the 2001 Economic Growth and Tax Relief Act contained tax relief for everyone: It reduced marginal rates, eliminated the death tax, increased the child care deduction, and it reduced the marriage penalty. Additionally, this tax relief was an important step in returning some of our money back to those who earned it – the taxpayers. Common thought on Capitol Hill holds that any money that makes it’s way to the Capitol instantly becomes ‘the politicians’ money. Politicians, however, need to remember that it is YOUR money and they should not only spend it wisely, but if too much accumulates then they should send it back!! Many of your elected officials have forgotten this important lesson.

Most Americans have already begun to enjoy the benefits of the tax bill either through a $300 tax rebate or the new reductions, which kicked in this year. Unfortunately, due to parliamentary procedure in the Senate, the tax relief provisions are scheduled to sunset after ten years. That means in ten years the death tax returns, your marginal tax rates go back up, and the marriage penalty is re-instated. We cannot let this tax increase occur. Congress must act NOW to make the Bush tax cut permanent and allow Americans to enjoy the full benefit of the 2001 tax cut.

From the average person’s standpoint, this idea probably seems reasonable and fair. Why should someone plan on dying during the year 2010 just so they can pass along a family business they have spent a lifetime creating? Or why should couples have to move around wedding dates just to get the best tax treatment? But some Democrats, such as Charles Rangel (D-NY), do oppose this common sense bill claiming that it benefits the wealthy and represents a backdoor way for Republicans to starve Social Security and Medicare. In reality, they just want to keep more of your tax money for their insatiable spending habits. Fortunately, making the tax relief permanent represents a top priority for the White House and House leadership. They understand that people need to plan for the future and deserve some of their hard earned money back. If they are to be successful in their efforts to make the tax cuts permanent and fight off the big spenders, they will need strong grassroots support. We need to show them that the American people want tax relief and not more government spending!

CSE ACTION ITEM:

Call or Email TODAY to your Congressman in Washington, DC. Let them know that you want them to make the provisions of the Economic Growth and Tax Relief Act of 2001 to be made permanent.