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Taxes Legislative Alerts
Dear Representative Pompeo,
On behalf of more than 1.8 million Americans for Prosperity activists in all 50 states, I write in strong support of H.R. 3308, your bill to end the federal government’s long-standing and highly-unproductive practice of using the tax code to pick winners and losers in energy markets.
[img_assist|nid=25346|title=|desc=|link=url|url=http://americansforprosperity.org/taxes|align=left|width=79|height=95]Late last week, a group of 100 U.S. Representatives sent a letter to the so-called Super Committee urging the handpicked group of twelve legislators to consider “all options for mandatory and discretionary spending and revenues” in order to reach the committee’s goal of $1.2 trillion in deficit reduction over the next ten years. In Washington, speak this is code for raising taxes.
Among this list is 40 Republicans whose capitulation encouraging the committee to raise taxes is troubling. We shouldn’t be surprised to see 60 Democrats seizing on the opportunity to drive a wedge between conservatives intent on restoring economic growth by keeping taxes low and Republican lawmakers who are starting to throw in the towel on keeping pressure on Democrats to cut spending.
On Tuesday, Americans for Prosperity joined other prominent free-market organizations in urging the Joint Select Committee on Deficit Reduction (commonly referred to as the "Super Committee") to find federal spending cuts by paring back or eliminating billions of dollars in wasteful farm subsidy programs.
Americans for Prosperity's recent policy paper, "Cut Spending Now: Recommendations for the Joint Select Committee on Deficit Reduction," shows that the Committee could cut as much as $190 billion in farm subsidies that do little more than distort the free market, achieving more than 15 percent of the Committee's $1.2 trillion deficit reduction target by cutting these programs alone.
A PDF copy of the letter is available below.
Dear Senators Hagan and McCain,
On behalf of more than 1.8 million Americans for Prosperity (AFP) activists in all 50 states, I write to applaud your introduction of the Foreign Earnings Reinvestment Act, S. 1671. The bill reinstates temporarily reduced tax rates for companies repatriating earnings generated abroad. Such a policy has, in the past, encouraged a flood of reinvestment in the United States. Today it is a much-needed plan to stimulate job creation and inject as much as a trillion dollars of capital into the American economy, funds that would otherwise stay outside the country.
Dear Senators and Representatives,
As you know, both the House and the Senate will be voting on three pending free trade agreements (FTAs): one with Colombia (H.R. 3078), one with Panama (H.R. 3079), and one with South Korea (H.R. 3080). Thankfully, President Obama finally sent the agreements to Congress and is no longer blocking the economic benefits of free trade. The latter two have been pending since June 2007, the former since November 2006.