Club President Chris Chocola in the WSJ: End The Tax Extenders
All that and more, coming soon to a taxpayer near you. It's once again time for the annual special-interest orgy known as the "tax extender" legislation, a giveaway bill that Congress plans to take up in the coming weeks.
Since the 1980s, when Washington last enacted comprehensive tax reform, Congress has passed extensions of ostensibly "temporary" tax breaks for interest groups. The package is referred to as "tax extenders" because the breaks are almost always extended by Congress without much opposition. The 2014 installment could cost $85 billion in the next two years, and legislators are piling on their pet projects since it's considered "must pass" legislation.
This is all a mistake. Congress needs to clean up the tax code and lower marginal rates across the board, but tax-extender legislation delays any serious reform. Congress should let the extenders expire permanently, and the Club for Growth, the free-market organization I run, intends to oppose the package. If a vote occurs, we'll likely include it on our annual congressional scorecard, which goes out to more than 100,000 of our members.
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Key Vote Alert - "NO" on Tax Extenders Bill (S.___)
"NO" on Tax Extenders Bill (S. ___)
The Club for Growth urges all Senators to vote "NO" on the tax extenders bill that the Senate Finance Committee recently marked up as the EXPIRE Act. A vote is expected sometime in May. The vote on final passage as well as procedural votes could be included in the Club's 2014 Congressional Scorecard.
This bill is mainly a hodge-podge of special interest earmarks in the federal tax code. Thankfully, these extenders expired at the end of 2013, so the best thing the Senate can do now is nothing. Majority Leader Harry Reid should cancel consideration of this bill and instead call for broad, pro-growth tax reform that will lower rates and remove other burdensome carveouts in the tax code. This will help revitalize our economy and spur innovation. For more information on the Club for Growth's position, please see this recent WSJ op-ed written by Club President Chris Chocola.
Our Congressional Scorecard for the 113th Congress provides a comprehensive rating of how well or how poorly each member of Congress supports pro-growth, free-market policies and will be distributed to our members and to the public.