Thune: Senate Partisans Block Meaningful Tax Relief for South Dakota Farms and Businesses

Thune: Senate Partisans Block Meaningful Tax Relief for South Dakota Farms and Businesses

Senator John Thune today issued the following statement regarding Democrat obstruction of the "Family Prosperity Act." The economic package included a permanent reduction of the estate tax, an extension of the state sales tax deduction, and an increase of the minimum wage. The package failed in the Senate by a vote of 56 to 42. Sixty votes were needed to overcome a Democrat filibuster.

"The economic package on the floor today was a fair compromise measure that would have directly benefited South Dakota farmers, businesses, and families." Thune said. "Farmers and small businesses owners in South Dakota are sure to be disappointed when they hear the burdensome death tax was not reduced because of politics and partisan obstruction.

"This package would have also lowered taxes for all South Dakotans who itemize on their taxes by extending their ability to deduct state and local sales taxes in lieu of state and local income taxes. But because of Democrat obstruction, tens of thousands of South Dakota taxpayers now face higher taxes.

"Today, Republicans offered a compromise solution on death tax reform and a minimum wage increase. Unfortunately, Senate Democrats were not willing to meet us half way and instead they put politics before good policy."

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http://thune.senate.gov/public/index.cfm?FuseAction=PressReleases.Detail&PressRelease_id=330&Month=8&Year=2006