Frank Lucas on Taxes

Last Updated : , 0

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. Frank Lucas voted against the Alternative Minimum Tax Relief Act of 2008.

Frank Lucas 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. Frank Lucas voted against the AMT Relief Act of 2007.

Frank Lucas 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. Frank Lucas voted against the Tax Increase Prevention Act of 2007.

Frank Lucas voted against the Tax Increase Prevention Act of 2007.

Tax Relief and Health Care Act of 2006

The Tax Relief and Health Care Act of 2006 was passed into law in 2006 and contained a wide array of tax cut extensions for everything from making improvements to your house, to state and local sales tax exemptions, and to make improvements to DC. It also contained a provision for health savings accounts. The bill got wide support and passed the house with about 25% of Democrats opposing it. Frank Lucas voted in favor of the Tax Relief and Health Care Act of 2006.

Frank Lucas voted in favor of the Tax Relief and Health Care Act of 2006.

Pension Protection Act of 2006

The Pension Protection Act of 2006 addressed regulations governing employer-sponsored pensions and acted to make the portions of the 2001 act which allowed higher contributions to IRAs. with the support of both parties. The bill got wide support from both parties and passed 279-131. Frank Lucas voted in favor of the Pension Protection Act of 2006.

Frank Lucas voted in favor of the Pension Protection Act of 2006.

Tax Increase Prevention and Reconciliation Act of 2005

The Tax Increase Prevention and Reconciliation Act of 2005 extended previously lowered dividend income and capital gains through 2010, and made an increase to the AMT exemption. It also eliminated income restrictions on high-income taxpayers for converting traditional Individual Retirement Accounts (IRAs) to Roth IRAs. Most Republicans supported the legislation and about 1/3 of teh Democrats supported it. The bill passed in a 234-197 vote with the support of both parties. Frank Lucas voted in favor of the Tax Increase Prevention and Reconciliation Act of 2005.

Frank Lucas voted in favor of the Tax Increase Prevention and Reconciliation Act of 2005.

Working Families Tax Relief Act of 2004

The Working Families Tax Relief Act of 2004 extended the 10 percent bracket on income tax created in the 2001 legislation, doubled the child tax credit, extended the previous AMT exemption and the Work Opportunity Tax Credit. The legislation was widely supported and passed 339-65. Frank Lucas voted in favor of the Working Families Tax Relief Act of 2004.

Frank Lucas voted in favor of the Working Families Tax Relief Act of 2004.

American Jobs Creation Act of 2004

The American Jobs Creation Act of 2004 allowed individuals to claim a deduction for state and local sales taxes paid, in lieu of deducting state income taxes. It also increased tax credits for business investment abroad, and temporarily increased the expensing provisions for corporations. The bill passed 251-178 with the support and opposition of both parties. Frank Lucas voted in favor of the American Jobs Creation Act of 2004.

Frank Lucas voted in favor of the American Jobs Creation Act of 2004.

A bill to end the marriage penalty

In 2004, the house voted on a bill to fix the marriage penalty tax. The bill increased the standard deduction for married taxpayers and increased the deducitons for the 15 percent bracket. The bill got wide support in the vote and passed with only 1/3 of the Democrats opposing it. The bill was not brought up for a vote in the Senate. Frank Lucas voted in favor of ending the marriage penalty.

Frank Lucas voted in favor of ending the marriage penalty.

Jobs and Growth Tax Relief Reconciliation Act of 2003

In the Jobs and Growth Tax Relief reconciliation Act of 2003 tax rates on realized capital gains received by individual shareholders were reduced from 10 percent (for taxpayers in tax brackets where the ordinary income tax rate was 15 percent or below) and 20 percent (for all other brackets) to 5 percent and 15 percent, respectively, through 2007 and to 0 and 15 percent in 2008. It also adjusted the AMT exemption limit, expanded the child tax credit, and accelerated some of the earlier aspects of the previous laws. The bill was supported by Republicans and opposed by Democrats, and passed in a 222-203 vote. Frank Lucas voted in favor of the Jobs and Growth Tax Relief Reconciliation Act of 2003.

Frank Lucas voted in favor of the Jobs and Growth Tax Relief Reconciliation Act of 2003.

Job Creation and Worker Assistance Act of 2002

The main provision of the Job Creation and Worker Assistance Act of 2002 was to create a bonus depreciation. This bonus depreciation allowed firms to claim extra deductions for depreciation of a long-term physical capital investment during the early years. This reduces corporate profits and therefore taxes. The act was supported by Republicans and opposed by Democrats 85-9. Frank Lucas voted in favor of the Job Creation and Worker Assistance Act of 2002.

Frank Lucas voted in favor of the Job Creation and Worker Assistance Act of 2002.

Death Tax Elimination Act of 2001

In 2001, the house voted on legislation to end the "Death Tax", otherwise known as the Estate Tax, which applies a tax to estates large than a given amount. The bill passed the house with the support of almost all Republicans and about 1/4 of the Democrats. Frank Lucas voted in favor of the Death Tax Elimination Act of 2001.

Frank Lucas voted in favor of the Death Tax Elimination Act of 2001.

Economic Growth and Tax Relief Reconciliation Act of 2001

The first piece of legislation was passed in 2001 as the Economic Growth and Tax Relief Reconciliation Act of 2001 The act was especially sweeping. Its two most prominent changes were a phased-in reduction in income tax rates and a reduction and eventual repeal (at the beginning of 2010) of the estate tax. It also provided a wide range of tax breaks for education, families with children, married couples, and contributions to certain kinds of savings accounts. While all republicans voted in favor of this legislation, most democrats opposed it. Frank Lucas voted in favor of the EGTRRA of 2001.

Frank Lucas voted in favor of the EGTRRA of 2001.

Marriage Tax Relief Reconciliation Act of 2000

In 2000, the house voted on a bill to fix the marriage penalty tax. The bill increased the standard deduction for married taxpayers and increased the deducitons for the 15 percent bracket. The bill got wide support in the vote and passed with only 1/3 of the Democrats opposing it. The bill was vetoed by the President.

Death Tax Elimination Act of 2000

The house also attempted to pass a repeal of the Death Tax in 2000. This time, the bill was supported by almost all Republicans and by about 1/4 of the Democrats. The bill was vetoed by the President. Frank Lucas voted in favor of the Death Tax Elimination Act of 2000.

Frank Lucas voted in favor of the Death Tax Elimination Act of 2000.

 

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 25; Fair Tax Act of 2011 - 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 2013, with adjustments to the rate in subsequent years. Establishes in the Department of the Treasury: (1) an Excise Tax Bureau to administer excise taxes not administered by the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF), and (2) a Sales Tax Bureau to administer the national sales tax. 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-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-111; Bill Number-H R 3463; Death Tax Repeal Permanency Act of 2009 - Cosponsor

Makes permanent the provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) that repeal the estate and generation skipping transfer taxes and that make reductions in the gift tax.

User Comments