Sen. Cornyn's Amendment To Lower Income Taxes For All Texans Blocked By Democrats

Press Release

Sen. Cornyn's Amendment To Lower Income Taxes For All Texans Blocked By Democrats

Measure would have provided meaningful tax relief to more than 105 million Americans

U.S. Sen. John Cornyn, R-Texas, introduced an amendment to H.R. 1, the American Recovery and Reinvestment Act, to provide meaningful tax relief for all working Texans and Americans across the country that was blocked by Senate Democrats this evening. His measure would have lowered the 10 percent tax bracket to 5 percent for 2009 and 2010, providing relief to more than 105 million taxpayers and a benefit of nearly $500 per year.

"I believe one of the best ways we can stimulate our economy is providing true tax relief to everybody who pays taxes. Rather than reprocessing those tax dollars by having Washington redistribute them to the winners and losers in the political process, why not let the people who earn money keep more of it? We know that's a lot more efficient," Sen. Cornyn said.

"The amendment I offered today was based upon experience of what works, which is putting money back into the pockets of working families. It cuts the income tax rate in the lowest income tax bracket from 10 percent to 5 percent, so it would have immediately help lower and middle-income taxpayers, and it will help all working Americans immediately.

"This amendment would provide meaningful tax relief to more than 105 million Americans, providing an immediate economic stimulus and jolt to our economy. It's disappointing it was blocked by Senate Democrats. My amendment was about providing real tax relief for taxpayers, and blocking this amendment is step backwards in working to get our economy back on track."

Sen. Cornyn remains committed to seeking tax relief for Texas families and small businesses.

Source