Congressman Harold Ford, Jr. released the following statement today regarding his vote on the tax cut bill for millionaires:“I voted no today on an additional round of tax cuts for people earning more than $1.2 million a year because the country is fighting two wars, running a record deficit and financing the rebuilding of the Katrina battered Gulf Coast. Today's vote is one more example of how divorced Congress and national politics are from the day to day realities of Tennessee business owners, seniors, farmers, workers, students and parents.
“At a time when middle class families in Tennessee - a state where almost 95% of households earn under $100,000 - are working to get ahead, now is not the time to run up more national debt.
“Furthermore, as a senior military officer shared with me, this is the first time the country has cut taxes, spent uncontrollably and fought and paid for two wars at the same time.
“I voted instead for the Democratic alternative, which provided $43 billion in tax relief for working Tennesseans and entrepreneurs, all without adding a dime to the deficit. The bill would bring high paying jobs to Tennessee through a tax credit for research and development and a break to restaurant owners who improve their operations. And most important for all Tennesseans, it would have protected the ability to deduct state and local sales from federal tax bills.
“For these reasons, I voted no on the leadership's bill. It was the responsible thing to do for the future of this country.”
Comments: The National Republican Senatorial Committee and Blogging for Bryant are once again issues misleading statements about Congressman Ford.
Both make the false assertion that Congressman Ford voted against tax relief for Tennesseans. Nothing could be further from the truth. Congressman Ford has a long record of supporting tax cuts that make sense.
That continued on Thursday when Congressman Ford voted for the Democratic tax plan which included:
- Extending the deduction for states and local taxes
- Extending the research and experimentation tax credit that promotes innovation
- Extending the Work Opportunity Tax Credit
- Expanding the eligibility to include older people who receive food stamps
The Democrat's bill was also revenue neutral, unlike the Republican version.
The tax cut plan that the Republicans passed through on Thursday was simply misguided and wrong for our country.
All it does it add more debt to future generations and hurts working families in Tennessee while continuing to pad the pockets of millionaires.
I applaud Congressman Ford for once again standing up for our future!
