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The Republican Tax Bill

Date: Dec. 8, 2005
Issues: Unemployed and Low-Income Entitlements and the Safety Net Health Insurance Higher Education Government Budget and Spending


THE REPUBLICAN TAX BILL
12/8/2005

Rep. Bernie Sanders (I-VT) today voted against the Republican Tax Reconciliation, which provides huge tax breaks to the wealthiest Americans, including an extension of capital gains and dividend tax cuts from 2008 to 2010. This bill follows the recently passed Republican budget reconciliation bill which cut critical funding for middle and low-income Americans, including cutting Medicaid by more than $11 billion, raising the average costs of student loans by $5,800, and reducing child support collections by $24 billion.

Sanders said, "At a time when our country has an $8 trillion national debt and when the incomes of the wealthiest are already soaring, it is an outrage that the Republican leadership is giving billions more in tax breaks to millionaires and billionaires and increasing the deficit by $81 billion. In this legislation, millionaires will receive an average tax break of $32,000 while more than half of all Americans will receive an average tax break of less than thirty bucks. This is absurd.

http://bernie.house.gov/documents/document.asp?issueNum=4698

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