Marathon Pundit: From the SRCC: Bipartisan opposition to president’s tax hikes

Tuesday, September 13, 2011

From the SRCC: Bipartisan opposition to president’s tax hikes

Stimulus II appears to be misfiring.

From a Senate Republican Communications Center press release:

Bipartisan Opposition To President’s Tax Hikes

Dems Have Opposed Similar Tax Hikes In the Past, Said They ‘Will Actually Hurt Job Production In The United States’

On Energy Tax: ‘It Will Actually Hurt Job Production In The United States’

SEN. MARY LANDRIEU (D-LA): “Will it create jobs? No. It will actually hurt job production in the United States.” “Why we are singling out one sector of one energy – you know, one part of the energy industry to repeal the subsidies when it will in fact have the opposite effect of reducing gasoline prices, which even its sponsors, one of its cosponsors said publicly for us not to be fooled. This will not reduce gasoline prices. So why are we doing it? Will it create jobs? No. It will actually hurt job production in the United States.” (Sen. Landrieu, Floor Remarks, 5/11/11)

SEN. MARK BEGICH (D-AK): “[The President’s proposal] would cost thousands of jobs in Alaska and across the country. Energy companies are among the businesses investing and creating jobs at a time when our country needs both. I will fight any measure that ends these incentives.” (“Oil And Gas: Tax Break Debate Heats Up On Capitol Hill,” E&E News PM, 2/8/11)

Senate Dems Rejected Energy Tax Hikes In February & May

FEBRUARY: Sens. Begich, Bingaman, Conrad, Landrieu, Ben Nelson, Pryor, and Webb voted against the Levin amendment. (S.Amdt.28 To S.223, CQ Vote #7; Amendment Rejected 44-54: R 0-48; D 42-7; I 1-0, Begich, Bingaman, Conrad, Landrieu, Ben Nelson, Pryor & Webb Voted Nay, 2/2/11)

· “Sen. Carl Levin (D-Mich.) offered another amendment to repeal the [1099] provision but paid for it by issuing new taxes on oil...” (“Senate Repeals Part Of Health Care Law,” Politico, 2/2/11)

MAY: Sens. Begich, Landrieu, and Ben Nelson voted against the S.940: “A bill to reduce the Federal budget deficit by closing big oil tax loopholes, and for other purposes.” (S.940, Motion To Proceed Rejected 52-48: R 2-45; D 48-3; I 2-0, 5/17/11)

On Carried Interest Tax: ‘Will Not Stand For’ It, Puts Job Creation ‘At Risk’

Sen. Chuck “Schumer is credited by some with helping to kill a Democratic push to tax carried interest…” (“Goldman Suit Figure Touted, Fundraised For Ally Schumer,” Politico, 4/16/10)

· SEN. CHUCK SCHUMER (D-NY): “Will not stand for” raising taxes on private-equity firms and hedge funds. “New York Sen. Charles Schumer said on Wednesday that Congress is right to look at the wealthy in considering possible tax hikes but that he ‘will not stand for’ raising taxes on private-equity firms and hedge funds...” (“Sen. Schumer Draws Line On Private Equity Taxes,” Reuters, 7/11/07)

REPS. JARED POLIS (D-CO) & MIKE QUIGLEY (D-IL): Proposal “further putting at risk our job creation and fragile economic recovery.” “Such a tax increase would not only damage our already fragile economic recovery, but it would also cripple the spirit of innovation and entrepreneurship that makes our country so strong.” (Reps. Jared Polis (D-CO) & Mike Quigley (D-IL), Letter To President Obama, 7/14/11)

On Limiting Charitable Deductions: 54 Senate Dems Voted No

54 Democrats voted against limiting charitable deductions. (S.Amdt.803 To S.Con.Res.13, Roll Call Vote #138: Amendment Agreed To 94-3: R 40-0, D 53-2, I 1-1, 4/2/09)

· “…the Senate voted 94-3 against lowering the tax benefits available to wealthier people taking advantage of deductions on charitable contributions. Obama wanted to have people in the upper brackets limited to a 28 percent deduction on itemized deductions instead of a maximum rate of 35 percent.” (“Analysis: Congress Backs Some Obama Goals, Not All,” AP, 4/5/09)

“The administration’s central revenue proposal — limiting the value of affluent Americans’ itemized deductions, including the one for charitable giving — fell flat in Congress, leaving the White House, at least for now, without $318 billion that it wants to set aside to help cover uninsured Americans.” (“Obama’s Revenue Plans Hit Resistance in Congress,” The New York Times, 4/19/09)

On Aviation Industry Tax: ‘Thousands’ Of ‘Very Good, High-Paying Jobs’ Put At Risk

WICHITA MAYOR CARL BREWER (D-KS): “I am deeply concerned about the President’s comments about general aviation today. Particularly during a time when many Americans are struggling to make ends meet, we cannot afford additional tax burdens… General aviation is a crucially important part of our national economy and an economic engine for thousands of communities across the nation, many of which would lose local manufacturing jobs or local business growth if faced with additional tax burdens…” (Mayor Carl Brewer, “Statement On President Obama’s Comments On General Aviation,” Press Release, 6/30/11)

· “R. Thomas Buffenbarger, president of the 720,000-member International Association of Machinists, penned a June 29 letter with Peter J. Bunce, CEO of the General Aviation Manufacturers Association… ‘We are perplexed over recent comments and actions questioning the value of corporate aircraft use and proposing tax changes that negatively would impact the entire general aviation industry’ Buffenbarger and Bunce wrote. ‘During the severe economic downturn in 2008, ill-informed criticism… jeopardized very good, high-paying jobs throughout the United States.’”(“Labor Leaders To Obama: Stop Killing Jobs,” San Angelo Standard-Times [TX], 9/5/11)