Ford calls on Corker, Bryant and Hilleary to Urge Frist to Cut Tax on Middle Class Families: Urges a Show of Unity From Republican Senate Opponents to Cut Alternative Minimum Tax Prior to Adjournment(Nashville) - Today, Congressman Harold Ford is urging Senator Bill Frist to call a vote on a proposal to lower taxes on middle class Tennesseans.
Ford gave the following statement:
“Earlier in the week, Senator Frist decided not to call a vote in the U.S. Senate to lower taxes on Tennessee households earning $200,000 a year or less. This tax, commonly referred to as the Alternative Minimum Tax (AMT), will cause considerable hardship on middle class families all across our state. According to the most recent census data, more than 90% of Tennessee families earn under $100,000 a year. The AMT basically serves as a toll booth for middle class families in Tennessee trying to get ahead. This tax should be lowered and would be if Senator Frist would call it for a vote."
“I, along with the entire Tennessee congressional delegation, voted last week for H.R. 4096 to lower the tax. The legislation passed overwhelming by a vote of 414 to 4. Senator Frist should honor the country’s wishes and call a vote in the U.S. Senate. In a show of unity, I am asking my three Republican opponents to join me in urging Senator Frist to call the middle class tax cut bill to the floor of the Senate."
“The cost to do this is estimated at $31.2 billion over five years. Because I am a Blue Dog Democrat who believes in paying for tax cuts, I would delay the implementation of the millionaires’ tax cut, commonly known as the dividend and capital gains tax cuts ( H.R. 4297, which Congress passed last week by a vote of 234 to 197), and replace it with the middle class tax cut so that more Tennessee families will have more money to save, spend or invest. It is important to note that the dividend and capital gains tax cuts that Congress extended, do not expire until 2008. Whereas, the Alternative Minimum Tax will go up on 17 million Americans if Congress doesn’t act now.”
Ford’s letter to Frist follows:
December 16, 2006
Dear Majority Leader Frist:
Last week the House of Representatives passed by a vote of 414 to 4, H.R. 4096, the Stealth Tax Relief Act, legislation that would affect tens of thousands of Tennessee families. It has been reported that you have decided the Senate will not consider this legislation before Congress adjourns.
I urge you to reconsider this decision. To pay for it, I believe we should delay the implementation of the millionaires’ tax cut (H.R. 4297) because they do not expire until 2008. However, the AMT, if not addressed this year, will impact tens of thousands across Tennessee and 17 million Americans around the country. I urge you to bring this legislation to the Senate floor for a vote before Congress adjourns for the year.
Sincerely,
Harold E. Ford, Jr.
