Action on Taxes

• Introduced legislation to make permanent the 2003 tax rate reductions on capital gains and dividends
• Supported several versions of a balanced budget amendment to the Constitution
• Supported legislation to repeal the small business paperwork mandate from the President’s healthcare law.  The provision passed both houses and was signed into law.
• Supported legislation to repeal the 3 percent withholding mandate on payments to companies that contract with the government, often small businesses.  The provision passed both houses and was signed into law.
• Introduced legislation to provide excise tax relief to the growing small brewing industry
• Introduced legislation to extend the short-line railroad maintenance tax credit.  A 1-year extension of the credit was included in the tax extenders legislation approved by the Senate Finance Committee.
• Introduced legislation to extend the 15-year recovery period for restaurant and retail improvements.  A 1-year extension was included in the tax extenders legislation approved by the Senate Finance Committee.
• Introduced legislation to extend the deductibility of private mortgage insurance.  A 1-year extension of this provision was included in the tax extender legislation approved by the Senate Finance Committee.
• Sent letter to Chairman Baucus and Ranking Member Hatch of the Finance Committee outlining my proposal for comprehensive tax reform.  To read the letter, click here.
• Called on the Senate Finance Committee Chairman to request the committee immediately convene a hearing to allow for a public inquiry into the circumstances surrounding missing electronic correspondence records from top U.S. Internal Revenue Service offcials.  Read the letter here.
• Called on the U.S. Treasury Department, the U.S. Attorney General and the U.S. Federal Election Commission to produce any record of electronic correspondence between the respective agencies and then-IRS Director of the Office of Exempt Organizations Lois Lerner and other top IRS officials. Read the letters, here, here and here.