April 11, 2002
AS TAX
DAY NEARS, GANSKE SAYS IOWA S CHOICE IS CLEAR:
TAXPAYER
HERO OR TAXPAYER ENEMY
(See
Below for Harkin s Tax-and-Spend Record)
DES MOINES, IA As the April 15 tax-filing deadline draws near, U.S. Senate candidate Greg Ganske (R-IA) wants Iowans to know they have a clear choice this election year between a taxpayer friend and a taxpayer foe.
During this past year, I stood with President Bush and voted to provide relief to the taxpayers of Iowa, said Ganske. I have always been, and will continue to be, a champion of positive efforts to reduce taxes, build jobs and spur economic growth.
Ganske s record in Congress includes votes for the following tax-relief efforts:
· Reducing Tax Rates Across-the-Board - Provides immediate tax relief through permanent reduction of individual income tax rates. The reduced rates will allow Americans to keep more of their hard-earned dollars.
· Repealing the Marriage Penalty - This legislation stops the unfair tax that couples pay and will strengthen families and secure our children's future.
· Doubling the Child Tax Credit to $1,000 - Under this plan, a family of four would get an additional $1,000 in tax relief to spend or save however they wish; for new clothes, college savings, or a host of other items in a family budget.
· Increasing the IRA Contribution Limit To $5,000 - Allows Americans to set more aside in an IRA, modernizes pension laws and provides regulatory relief to encourage more small business to offer retirement plans.
· Increasing the 401K Contribution Limit To $15,000 - The limit on contributions to 401(k)-type plans would be increased to $15,000 by 2006; and the limit on an employer's deduction for contributions to certain types of defined contribution plans would be raised to 20% of compensation.
These and other votes have earned Ganske a Hero of the Taxpayer award from the non-partisan Americans for Tax Reform (ATR). In contrast, Tom Harkin earned an Enemy of the Taxpayer Award from ATR. Harkin has voted against tax cuts all the way back to the 1981 Reagan Economic Recovery Tax Act (see attachment).
Ganske also points out that his race is vital to Iowa taxpayers because a Republican majority would return Charles Grassley to the chairmanship of the Senate Finance Committee. As Finance Chairman in 2001, Grassley spearheaded passage of President Bush s $1.3 trillion tax-reduction package.
A brief review of Tom Harkin s voting record on taxes follows:
TOM
HARKIN S TAX-AND-SPEND RECORD
Harkin Voted Against The 1981 Reagan Tax Cut
Economic Recovery Tax Act (ERTA)
In 1981, Then-Representative Harkin Voted Against Reducing Taxes, even though 113 Democrats almost 63 percent of House Democrats voted for passage. President Reagan s Economic Recovery Tax Act sought, in part, to cut income tax rates, reduce taxes on investments, and reduce capital gains taxes. Then-Rep. Harkin voted against sweeping tax relief. ( Reagan s Tax Plan, CQ Almanac, 1981, p. 92; H.R. 4242, CQ Vote #179: Adopted 282-95: R 169-1; D 113-94, August 4, 1981. Harkin voted Nay.)
Harkin Voted For The 1993 Clinton Tax Hike The Largest Tax Increase in U.S. History
In 1993, Harkin Voted For The Largest Tax Increase In U.S. History. Harkin voted to raise taxes on Americans by the largest amount in history. The vote increased taxes by over $240 billion, including a retroactive increase in the death tax. Then-Vice President Al Gore cast the deciding vote for passage. (H.R. 2264, Roll Call #247: Adopted 51-50: R 0-44; D 50-6, with Vice President Al Gore casting the tie-breaking vote, August 6, 1993. Harkin voted Yea.) (emphasis added) Harkin was one of 50 Democrats who voted to increase taxes.
One Year Later, President Clinton Admitted That The Harkin-Supported Tax Increase Went Too Far:
- Probably there are people in this room still mad at me & because you think I raised your taxes too much. It might surprise you to know that I think I raised them too much, too. President Bill Clinton (E. J. Dionne Jr., ...And Clinton s Blunder, The Washington Post, October 24, 1995)
Harkin Voted Against The 2001 Bush Tax Cut
On Wednesday, May 23rd, President George W. Bush s historic $1.35 trillion tax relief package came before the United States Senate. The measure was passed with bipartisan support a major step toward providing sweeping tax relief for the American people. 12 Democrats joined all 50 Republicans in voting for tax cuts. (H.R. 1836, CQ Vote #165: Passed 62-38: R 50-0; D 12-38, May 23, 2001. Harkin voted Nay.) Iowa Senator Tom Harkin, however, Voted Against Cutting Taxes:
Sen. Harkin Voted Against $1.35 Trillion In Tax Relief. Tax-and-spend Tom Harkin voted against the bipartisan $1.35 trillion tax cut. With his vote, Harkin decided against providing Iowans with across the board rate cuts, marriage penalty relief, and elimination of the death tax.
Before Bush s Tax Relief Passed, Harkin Voted To Shrink The Size Of The Cut:
On May 17th, Harkin Voted To Postpone Elimination Of The Death Tax. On May 17th, a bipartisan group of Senators defeated an amendment that would sacrifice an earlier plan to phase out the death tax. Harkin voted to keep the death tax. Seven Democrats later joined most GOP senators in defeating, 55-43, an effort by Sen. Charles Schumer, D-N.Y., to scale back the bill s estate tax cuts & ( Tax Cut Survives Senate Test, The New York Times, May 18, 2001)
President Bush s Original Tax Plan Would Have Cut Federal Taxes For Iowa Families By Almost 75%. Iowa families of 4, with 2 joint-filing parents and 2 dependent children, had a median income of $39,537 in 2001. Under the then-current tax code, they paid $2,148 in taxes annually. Under the Bush plan, which Sen. Harkin fought, the same family would have paid only $548 in taxes a savings of $1,600. This would have meant a 74.5% decrease in Federal taxes for the average family in Iowa. Harkin opposed cutting taxes for Iowa s families. (The Heritage Foundation Web site, www.heritage.org, April 5, 2001) (emphasis added)
Harkin Eliminated $448 Billion From The Original Bush Tax Cut. In April 2000, Sen. Harkin introduced an amendment to slash $448 Billion off of the $1.6 Trillion Bush tax cut plan. This reduction would decrease the size of the tax cut by 28%, thus reducing the amount of tax relief for Iowa s families. Harkin s amendment to the tax cut passed the Senate.
Harkin Compares $6.1 Billion in Taxpayer Dollars to Pencil Dust
Harkin recently compared his $6.1 billion Farm Bill budget error to pencil dust. Those remarks have drawn the ire of Iowa taxpayers, given the fact the entire 2001 Iowa state budget was $5.1 billion.
Paid for by Ganske for Senate