Issue Position: Lower Taxes

Issue Position

I have long been a supporter of tax reform and was proud to cast my vote for the third-largest tax cut in history, the Jobs and Growth Tax Relief Reconciliation Act of 2003. The law accelerated the tax relief Congress passed in 2001, including marriage penalty relief, an increase in the child tax credit, tax rate reductions for every family that pays income taxes, and also lowering the tax rate on dividends and capital gains.

These tax cuts that the President proposed and the Congress passed have been an important stimulator for the economy. The child tax credit gave tax refunds to those most likely to reinvest in the economy - parents. The capital gains tax cut spurred investment. And the across-the-board tax rate cuts ensured the tax cuts went to all taxpayers, so that all taxpayers could reinvest into the economy, further driving economic growth.

I have supported and will continue to fight to make all of the 2001 tax relief provisions permanent. In 2003, I cosponsored H.R. 8, the Death Tax Repeal Permanency Act, to completely eliminate the onerous estate tax. The 2001 tax cut gradually phased out the death tax by 2010, but it returns in full force in 2011. The House passed this legislation in June of 2003 to make it easier to pass on a family-owned business or farm to the next generation.

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