Economy Alarm: Dem Chair of Tax Writing Committee Says Small Business Tax is Still Intact
In Midst of Recession, Democrats Offer Healthcare Takeover that Increases Costs, Runs Up the Deficit, and Financed by a Job-Killing Small Business Tax
Pelosi Promises to Rethink Small Business Tax
“Trying to sell a historic health bill to a balky caucus, House Speaker Nancy Pelosi told POLITICO in an interview that she wants to soften a proposed surcharge on the wealthy so that it applies only to families that make $1 million or more… The bill now moving through the House would raise taxes for individuals with annual adjusted gross incomes of $280,000, or families that make $350,000 or more.” (Mike Allen, “Nancy Pelosi: Make Millionaires Pay for Health Care,” Politico, 7/20/09)
Credibilty Crash: Top Tax Writer ‘Scoffs’ at Taking Small Business Tax Off the Table
House Ways and Means Chairman Charlie Rangel (D-N.Y.) bristled Tuesday at Speaker Nancy Pelosi’s (D-Calif.) suggestion that his health care tax package be rewritten to target millionaires.
“She has mentioned this more than once with me present in a group, but not as any indication that she wants our committee to review it,” Rangel said. “She’s never discussed it with me.”
Rangel said he still supports his committee’s package of tax hikes, which phase in starting at $280,000 for individuals and $350,000 for couples. Pelosi has suggested starting at $500,000 for individuals and $1 million for couples.
“I support what we have put out,” Rangel said. “If anybody has a problem with it, I’m anxious to listen.”
But Rangel, whose committee passed the bill last week, doesn’t plan to rewrite the package. (Stephen T. Dennis, “Rangel Scoffs at Pelosi’s Proposal to Tax Millionaires,” Roll Call, 7/21/09)
To read the full story, click here: http://www.rollcall.com/news/37041-1.html
###