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Porter: Tax families, not Big Oil and Hedge Fund Managers |
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 Porter: Tax families, not Big Oil and Hedge Fund Managers
Jon Porter is twisting himself in knots to explain why he voted last
week against a one-year reprieve of the AMT tax, which affects more
than 58,000 people in his district. http://waysandmeans.house.gov/media/pdf/110/nv.pdf
Last night in an interview with Las Vegas One’s Jeff Gillan, Porter said he voted against a one-year reprieve of the AMT tax (http://clerk.house.gov/evs/2008/roll455.xml) because he wanted to vote for a permanent repeal of the tax.
Porter acknowledged that “working families are being impacted” by the
AMT tax, but “we should permanently fix it, and not just do a
Band-Aid.”
Repealing the AMT tax for just 10 years would cost $800 billion
dollars. If the Bush tax cuts for wealthy Americans continue, repealing
the tax for 10 years would cost $1.5 trillion. http://www.cbpp.org/1-9-07tax.htm
Jon Porter has no plan for a permanent fix.
Gillan: How do you fix it permanently?
Porter: Actually, there's plenty of waste, fraud, and abuse in
our federal government right now. They're, y'know, they're six or seven
agencies inspecting pizzas, frozen pizzas, and not that
we shouldn't check our pizzas to make sure they're safe, but there
is so much bloated government. There is ample funds, and we don't have
to impact families to raise taxes.
Gillan: Is there enough though? I mean, fixing the AMT, that's
like a multi-billion dollar fix. Almost even larger, if I'm not
mistaken. I mean, is there really enough waste, do you think?
Porter: I really think there is Jeff, and it's, uh, fixing the
AMT is incremental as well. I'm convinced, and if you recall, I was
chairman of a committee over federal agencies. There is so
much money going to waste.
“How does Jon Porter plan to come up with $150 billion a year to pay
for a permanent AMT tax repeal? Porter should name the $1.5 trillion of
specific programs that he would cut to pay for a permanent repeal,”
said Kirsten Searer, deputy executive director of the Nevada Democratic
Party.
“Let’s cut through Jon Porter’s rhetoric: Porter voted against a
reprieve of the AMT tax because he’d rather tax middle class families
than Hedge Fund managers and his friends in Big Oil. It’s as simple as
that,” Searer said.
The Democrats’ plan to give a one-year reprieve of the AMT to
middle-class families was paid for by repealing tax relief for the five
major Big Oil companies and closing a loophole that allows foreign
corporations established in tax haven countries to dodge American
taxes.
What’s more — Porter misleads his constituents when he says he want a
permanent AMT cut. He has voted multiple times for a one-year
reprieve, supporting bills that cut the tax but have no way to pay for
the lost revenue:
http://clerk.house.gov/evs/2004/roll472.xml
http://clerk.house.gov/evs/2005/roll613.xml
http://clerk.house.gov/evs/2006/roll135.xml
http://clerk.house.gov/evs/2007/roll1183.xml
“As usual, Jon Porter would rather increase our deficit and put more of
a financial burden on our children’s backs than cut taxes responsibly,”
Searer said. “He is absolutely misleading the public on this issue, and
the nearly 60,000 families in Congressional District 3 who need tax
relief deserve better.”
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