Paul Kanjorski on Taxes

Last Updated : Sep 02, 2010

Campaign Website Statements

Restoring Fiscal Responsibility

Paul supported the Statutory PAY-AS-YOU-GO Act of 2010, which the House passed and the President signed into law. Generally speaking, this legislation requires that future legislation passed be paid for and cannot add the deficit except in emergency situations. PAYGO was previously law under the Clinton Administration and helped lead to record budget surpluses. Unfortunately, PAYGO was repealed under the Bush Administration in 2001.

Furthermore, in order to identify policies to improve our nation’s fiscal health, Paul supported the creation of a National Commission on Fiscal Responsibility and Reform. The Commission will propose recommendations designed to balance the budget, improve the long-run fiscal outlook, including changes to address entitlement spending and the gap between projected revenues and expenditures of the federal government. Democrats and Republicans will be appointed to the Commission and they will not receive any compensation. We need to develop bipartisan solutions to get our fiscal house in order and the National Commission on Fiscal Responsibility and Reform represents a good first step.

 

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. Paul Kanjorski voted in favor of the Alternative Minimum Tax Relief Act of 2008.

Paul Kanjorski voted in favor of 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. Paul Kanjorski voted in favor of the AMT Relief Act of 2007.

Paul Kanjorski voted in favor of 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. Paul Kanjorski voted in favor of the Tax Increase Prevention Act of 2007.

Paul Kanjorski voted in favor of 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. Paul Kanjorski voted in favor of the Tax Relief and Health Care Act of 2006.

Paul Kanjorski 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. Paul Kanjorski voted against the Pension Protection Act of 2006.

Paul Kanjorski voted against 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. Paul Kanjorski voted against the Tax Increase Prevention and Reconciliation Act of 2005.

Paul Kanjorski voted against 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. Paul Kanjorski voted against the Working Families Tax Relief Act of 2004.

Paul Kanjorski voted against 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. Paul Kanjorski voted against the American Jobs Creation Act of 2004.

Paul Kanjorski voted against 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. Paul Kanjorski voted against ending the marriage penalty.

Paul Kanjorski voted against 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. Paul Kanjorski voted against the Jobs and Growth Tax Relief Reconciliation Act of 2003.

Paul Kanjorski voted against 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. Paul Kanjorski voted in favor of the Job Creation and Worker Assistance Act of 2002.

Paul Kanjorski 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. Paul Kanjorski voted against the Death Tax Elimination Act of 2001.

Paul Kanjorski voted against 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. Paul Kanjorski voted against the EGTRRA of 2001.

Paul Kanjorski voted against 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. Paul Kanjorski voted against the Death Tax Elimination Act of 2000.

Paul Kanjorski voted against the Death Tax Elimination Act of 2000.

 

Sponsored and Cosponsored Legislation

Session-110; Bill Number-H R 2517; Fair Tax Act of 2007 - Cosponsor

To promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States.

Session-109; Bill Number-H R 2121; Generate Retirement Ownership Through Long-Term Holding Act of 2005 - Cosponsor

Amends the Internal Revenue Code to provide that no gain shall be recognized on the receipt of a capital gain dividend distributed by a regulated investment company if such dividend is automatically reinvested in additional shares of the company pursuant to a dividend reinvestment plan.

Session-109; Bill Number-H R 2631; Religious Freedom Peace Tax Fund Act - Cosponsor

To affirm the religious freedom of taxpayers who are conscientiously opposed to participation in war, to provide that the income, estate, or gift tax payments of such taxpayers be used for nonmilitary purposes, to create the Religious Freedom Peace Tax Fund to receive such tax payments, to improve revenue collection, and for other purposes.

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