|
On The Senate Floor: Tax Reconciliation
THE TAX BILL HAS ALREADY PASSED THE SENATE WITH A STRONG BIPARTISAN MAJORITY
February 1, 2006 - In November, A Solid Bipartisan Majority Voted To Extend Vital Tax Relief Measures That Provide Benefits Across All Income Levels. “The Senate early yesterday passed, 64-33, a $60 billion bill to continue expiring tax cuts and to shelter 14 million families from paying higher taxes through the Alternative Minimum Tax.” (James Kuhnhenn, “Republicans Win Votes In House On Spending, But Haggling Remains,” The Philadelphia Inquirer, 11/19/05)
* More Than One-Third Of Senate Democrats Voted For The Bill. (S. 2020, CQ Vote #347: Passed 64-33: R 49-4; D 15-28; I 0-1, 11/18/05)
Baucus, M. (MT)
Feinstein (CA)
Nelson, Bill (FL)
Cantwell (WA)
Johnson, Tim (SD)
Pryor (AR)
Carper (DE)
Landrieu (LA)
Salazar, K. (CO)
Clinton (NY)
Lincoln (AR)
Schumer (NY)
Dayton (MN)
Nelson, Ben (NE)
Stabenow (MI)
DEMOCRATS LAUDED THE BILL
Sen. Charles Schumer (D-N.Y.) Praised The Bill As “A Boon To New Yorkers From Every Walk Of Life.” “‘The inclusion of these provisions in the tax bill is going to be a boon to New Yorkers from every walk of life,’ Schumer said. ‘The two billion dollar tax credit is a necessary shot in the arm for the rail link and downtown development, the AMT relief will save thousands of New Yorkers from facing a big tax increase next year, and the college tuition deduction is going to provide necessary help to New York students.’” (“Senate Poised To Pass Tax Bill,” States News Service, 11/16/05)
Sen. Hillary Clinton (D-N.Y.) Called The Measure “A Huge Victory” For “All Of New York City.” “‘This is a huge victory not only for Lower Manhattan, but all of New York City. This has been a long and hard fought effort to ensure that New York receives the aid it was promised after 9/11 and the provision in the Finance Committee’s bill will give the City and State the flexibility it needs to properly plan the ongoing reconstruction and revitalization in Lower Manhattan,’ said Senator Hillary Rodham Clinton.” (“Senate Poised To Pass Tax Bill,” States News Service, 11/16/05)
Sen. Ben Nelson (D-Neb.): “It’s A Win For America’s Disabled Veterans And All Persons With Severe Disabilities And It’s A Win For America’s Taxpayers.” (Sen. Ben Nelson, Press Release, 11/18/05)
HIGHLIGHTS OF THE TAX RECONCILIATION BILL
… Prevents Approximately Fourteen Million Families From Being Snared By The Alternative Minimum Tax.
… Extends For An Additional Year The State And Local Sales Tax Deduction.
… Extends The Tuition Deduction Through 2010—Allowing Taxpayers To Write Off Up To $4,000 Per Year.
… Extends Through 2009 A Savings Tax Credit That Helps Low-Income Taxpayers Build A Nest Egg.
* Footnote: The National Savings Rate Is At Its Lowest Point Since The 1930’s. “Americans are spending everything they’re making and more, pushing the national savings rate to the lowest point since the Great Depression. … The Commerce Department reported Monday that Americans’ personal savings fell into negative territory at minus 0.5 percent last year.” (“Americans’ Savings Rate Declines in 2005,” The Associated Press, 1/30/06)
ONE DAY AFTER THE PRESIDENT’S CALL TO WORK TOGETHER: DEMOCRATS RESPOND WITH MORE OBSTRUCTION AND DELAY
ABC’s Elizabeth Vargas: “[President Bush] Reached Out Many, Many Times To The Democrats, And Reached Out With An Olive Branch On Many Occasions, Repeatedly Expressing That He Wants Everybody’s Advice, He Wants To Work With Them…” (ABC Special Report, 1/31/06)
Senate Minority Leader Harry Reid, Hours Before The President’s State Of The Union Address: “We’ve Done A Great Job. … We’ve Been Able To Stop All These Mischievous Programs Of The President.” (CNN’s “American Morning,” 1/31/06)
Reid, Last May: “President Bush Will Get Nothing Done That He Wants.” (Las Vegas Review-Journal, 5/7/05)
Reid, On Asbestos Reform: “I Want That Bill To Come To The Floor Like I Want To Have A Heart Attack.” (Press Conference, 6/6/05)
* * *
Democrats May Want To Listen To Virginia Gov. Tim Kaine, Who Delivered Their Party’s Response To The State Of The Union. KAINE: “I think we [Democrats] have to be much more about an optimistic and positive message. … I think sometimes we perfect the criticism without a positive, forward-looking message.” (“Democratic Governor Plans Bush Response,” The Associated Press, 1/30/06)
|
|
