Doug Lamborn on Taxes

Last Updated : Mar 30, 2012

2012 Campaign Website Statements

 

Voting Record

Alternative Minimum Tax Relief Act of 2008

The Alternative Minimum Tax was created to tax wealthy individuals who were exploiting loopholes to avoid paying taxes. It was not indexed to inflation and now affects many more families than it was intended. Congress regularly applies "fixes" to the law in the form of yearly adjustments. Sometimes they attempt to repeal it completely. In 2008, the house voted on the Alternative Minimum Tax Relief Act of 2008. The bill was had the objectives of increasing and extending through 2008 the alternative minimum tax (AMT) exemption amounts, and extending through 2008 the offset of certain nonrefundable personal tax credits against regular and AMT tax liability. This change would have brought in less revenue and that was to be offset by lowering the tax deductions for oil companies. The bill was supported by most Democrats and opposed by most Republicans. While it passed the house, it never came up for a vote in the Senate. Doug Lamborn voted against the Alternative Minimum Tax Relief Act of 2008.

Doug Lamborn voted against the Alternative Minimum Tax Relief Act of 2008.

AMT Relief Act of 2007

The AMT Relief Act of 2007 sought to apply a fix to the AMT, and offset those costs by taxing gross income from overseas companies. Most Democrats supported the legislation and most Republicans opposed it and the bill passed the house, but was not brought up for a vote in the Senate. Doug Lamborn voted against the AMT Relief Act of 2007.

Doug Lamborn voted against the AMT Relief Act of 2007.

Tax Increase Prevention Act of 2007

In 2007, congress passed legislation to apply a temporary fix. Most Democrats supported the legislation and all Republicans opposed it on the grounds that it violated PAYGO. Doug Lamborn voted against the Tax Increase Prevention Act of 2007.

Doug Lamborn voted against the Tax Increase Prevention Act of 2007.

 

Sponsored and Cosponsored Legislation

Session-111; Bill Number-H R 25; Fair Tax Act of 2009 - Cosponsor

Repeals the income tax, employment tax, and estate and gift tax. Imposes a national sales tax on the use or consumption in the United States of taxable property or services. Sets the sales tax rate at 23% in 2011, with adjustments to the rate in subsequent years. Allows exemptions from the tax for property or services purchased for business, export, or investment purposes, and for state government functions. Prohibits the funding of the Internal Revenue Service (IRS) after FY2013. Terminates the sales tax imposed by this Act if the Sixteenth Amendment to the U.S. Constitution (authorizing an income tax) is not repealed within seven years after the enactment of this Act.

Session-110; Bill Number-H R 25; Fair Tax Act of 2007 - Cosponsor

Repeals the income tax, employment tax, and estate and gift tax. Imposes a national sales tax on the use or consumption in the United States of taxable property or services. Sets the sales tax rate at 23 percent in 2009, with adjustments to the rate in subsequent years. Allows exemptions from the tax for property or services purchased for business, export, or investment purposes and for state government functions. Allows families a sales tax rebate. Prohibits the funding of the Internal Revenue Service (IRS) after FY2011.

Session-112; Bill Number-H R 143; Permanently Repeal the Estate Tax Act of 2011 - Cosponsor

Repeals the federal estate tax, effective for estates of decedents dying after December 31, 2010.

Session-112; Bill Number-H R 547; Individual AMT Repeal Act of 2011 - Cosponsor

Amends the Internal Revenue Code to repeal the alternative minimum tax (AMT) on individuals after 2010.

Session-111; Bill Number-H R 470; Economic Recovery and Middle-Class Tax Relief Act of 2009 - Cosponsor

Makes permanent the reductions in the dividend and capital gain tax enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003.Amends the Internal Revenue Code to: (1) reduce individual and corporate income tax rates; (2) repeal the alternative minimum tax for individual taxpayers; (3) allow inflation adjustments to the basis of capital assets in determining gain or loss; (4) reduce the capital gains tax rate for corporations; (5) repeal limitations on the expensing allowance for depreciable business assets; (6) make permanent the tax credit for increasing research activities; (7) extend the carryback period for net operating losses to seven years; (8) increase the child tax credit; (9) exclude from gross income in 2009 distributions from an individual retirement plan (IRA) and exempt IRAs from mandatory distribution requirements after 2009; and (10) increase the tax deductions for tuition and related expenses and for the interest on qualified education loans.Makes 1% across-the-board rescissions in non-defense discretionary spending for FY2009.

Session-111; Bill Number-H R 1552; Start Up Expenses - Cosponsor

Amends the Internal Revenue Code to increase in taxable years beginning in 2009, 2010, or 2011: (1) the limit on the tax deduction for trade or business start-up expenditures from $5,000 to $20,000; and (2) the threshold amount for reducing such limit.

Session-111; Bill Number-H R 205; Death Tax Repeal Act - Cosponsor

Repeals the federal estate, gift, and generation-skipping transfer taxes.

Session-111; Bill Number-H R 25; Fair Tax Act of 2009 - Cosponsor

Repeals the income tax, employment tax, and estate and gift tax. Redesignates the Internal Revenue Code of 1986 as the Internal Revenue Code of 2009. Imposes a national sales tax on the use or consumption in the United States of taxable property or services. Sets the sales tax rate at 23% in 2011, with adjustments to the rate in subsequent years. Allows exemptions from the tax for property or services purchased for business, export, or investment purposes, and for state government functions. Sets forth rules relating to: (1) the collection and remittance of the sales tax; and (2) credits and refunds. Allows a monthly sales tax rebate for families meeting certain size and income requirements.

Session-110; Bill Number-H R 2380; Death Tax Repeal Permanency Act of 2007 - Cosponsor

To make the repeal of the estate tax permanent.

Session-110; Bill Number-H R 2734; Tax Increase Prevention Act of 2007 - Cosponsor

To make the Economic Growth and Tax Relief Reconciliation Act of 2001 and certain other tax benefits permanent law.

Session-110; Bill Number-H R 1586; Death Tax Repeal Act of 2007 - Cosponsor

Repeals the federal estate, gift, and generation-skipping transfer taxes.

Session-110; Bill Number-H R 3818; Taxpayer Choice Act of 2007 - Cosponsor

To amend the Internal Revenue Code of 1986 to repeal the alternative minimum tax on individuals and replace it with an alternative tax individuals may choose.

Session-110; Bill Number-H R 1366; Individual AMT Repeal Act of 2007 - Cosponsor

To amend the Internal Revenue Code of 1986 to repeal the alternative minimum tax on individuals.

Session-110; Bill Number-H R 7223; Free Market Protection Act of 2008 - Cosponsor

To suspend the capital gains tax, schedule the government-sponsored enterprises for privatization, repeal the Humphrey-Hawkins Full Employment Act, and suspend mark-to-market accounting requirements, and for other purposes.

Session-110; Bill Number-H R 4995; Middle Class Jobs Protection Act of 2008 - Cosponsor

Amends the Internal Revenue Code to: (1) reduce the maximum corporate income tax rate to 25%; (2) increase the expensing allowance for depreciable business assets to $250,000 in 2008 and 2009; (3) increase to 50% the current year bonus depreciation allowance for certain property placed in service in 2008 and 2009; and (4) allow additional carrybacks for certain net operating losses and for excess business and foreign tax credit amounts arising in 2008 and 2009.

Session-110; Bill Number-H R 5109; Economic Growth Act of 2008 - Cosponsor

Amends the Internal Revenue Code to: (1) repeal the dollar and other limitations on the expensing allowance of depreciable business assets; (2) reduce to 25% the maximum corporate income tax rate; (3) provide for an inflation adjustment to the basis of certain capital assets for purposes of determining gain or loss; and (4) reduce from 35 to 15% the alternative capital gains tax rate for corporations.

Session-110; Bill Number-H R 5908; Zero percent tax rate for the net capital gains - Cosponsor

Amends the Internal Revenue Code to establish, on a permanent basis, a zero percent tax rate for the net capital gains of individuals and corporations for purposes of the regular and alternative minimum tax. Eliminates the terminating date in the Jobs and Growth Tax Relief Reconciliation Act of 2003 (i.e., December 31, 2008) for provisions that reduce the capital gains tax rate for individuals.

Session-111; Bill Number-H R 782; Taxpayer Choice Act of 2009 - Cosponsor

Amends the Internal Revenue Code to: (1) repeal the alternative minimum tax on individual taxpayers after 2008; and (2) allow taxpayers to elect an alternative income tax system. Makes permanent the capital gains and dividends rate reductions enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2001.

Session-110; Bill Number-H R 2312; To make permanent the individual income tax rates for capital gains and dividends. - Cosponsor

Repeals the termination date in the Jobs Growth Tax Relief Reconciliation Act of 2003 for provisions reducing individual tax rates on capital gains and dividend income.

User Comments