Key Vote Alert – “NO” on Emergency Supplemental (HR 2266)

Mr. Andrew Roth - October 12th, 2017

KEY VOTE ALERT

“NO” on Emergency Supplemental (HR 2266)

The Club for Growth opposes the Additional Supplemental Appropriations for Disaster Relief Requirements Act of 2017 (HR 2266) and we urge all House members to vote NO on it.  A vote is expected later today.  The vote will be included in the Club’s 2017 congressional scorecard.

This plan increases spending by $36.5 billion without any offsets.  The “emergency” designation assigned to this bill is nothing more than a gimmick that allows politicians to avoid the hard work of cutting spending elsewhere in the budget.  Supporters will say that disasters like hurricanes can’t be anything but emergencies since they are so unpredictable.  But the truth is that natural disasters are predictable – we know with 100% certainty that they will occur in the future.  So fiscally responsible stewards of American tax dollars should plan accordingly, just as American families save money for a “rainy day”.

Also, this proposal includes a bailout of the unnecessary and convoluted National Flood Insurance Program.  This government-run plan distorts the insurance market, creates bad incentives, and is very expensive for taxpayers.  It should be abolished immediately, and it certainly shouldn’t be bailed out.

Perhaps worst of all, the House is trying to pass this plan under suspension of the rules, which means limited debate and no amendments.  When doling out billions of tax dollars, House leadership owes it to the American people to at least have a robust debate about this bill.

Our Congressional Scorecard for the 115th 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.

Club for Growth PAC Endorses Missouri Attorney General Josh Hawley for Senate

Rachael Slobodien - October 10th, 2017

Washington, DC – Today, the Club for Growth PAC announced its endorsement of Missouri Attorney General Josh Hawley, who is running against incumbent Senator Claire McCaskill (D-MO).

 “Club for Growth PAC is absolutely thrilled to announce our support for Missouri Attorney General Josh Hawley in his bid to unseat Senator Claire McCaskill, stated Club for Growth PAC President David McIntosh“Josh is an ideal candidate who possesses conservative credentials and a commitment to pro-market economic principles few can match.”

“From his time clerking at the Supreme Court to serving as the Show Me state’s attorney general, Josh has demonstrated a keen knowledge of federal policy and is devoted to defending the Constitution against government overreach.

“Unlike out-of-touch liberal Claire McCaskill, Missourians will be able to count on Josh to be a strong voice for fiscal sanity.  Josh also isn’t afraid to tackle the cronyism that plagues Claire McCaskill and the rest of the Washington swamp.”

Paid for by Club for Growth PAC and not authorized by any candidate or candidate’s committee. 202.955.5500

Club for Growth PAC Endorses Tennessee State Senator Mark Green for Congress

Stacy French - October 05th, 2017

Washington, DC – Today, the Club for Growth PAC announced its endorsement of Tennessee State Senator Mark Green for the U.S. House of Representatives.  Green is running for the open seat being vacated by Congressman Marsha Blackburn (TN-07), who is running for Senate.

“Club for Growth PAC is thrilled to announce support for Mark Green and his campaign for Congress,” stated Club for Growth PAC President David McIntosh.

“Mark has been an outspoken conservative in the Tennessee legislature.  He led the fight to oppose Medicaid expansion as well as fought against the Hall Income tax and big government regulations like occupational licenses.

“Mark is an outstanding advocate for economic growth and would bring fiscal sanity with him when he comes to Washington.”

 

Paid for by Club for Growth PAC and not authorized by any candidate or candidate’s committee. 202.955.5500

 

Club for Growth’s Statement on Big Six’s Tax Reform Blueprint

Rachael Slobodien - September 27th, 2017

Washington, DC – Today, Club for Growth President David McIntosh offered the following statement in reaction to the Big Six’s tax reform proposal:

“Club for Growth is very encouraged and pleased with the long-awaited tax reform outline that the Big Six released today,” stated David McIntosh.

“Fundamental tax reform comes around only once in a generation, and this is our chance.  The outline is both aggressive and very pro-growth with its rate reductions.  Club for Growth congratulates the members of the Big Six for their hard work and will continue to support the pro-growth efforts of the Trump administration and Congress as they seek to make tax reform a reality.  To this end, the Club will also work with Congress to pass a budget in order to get reconciliation tax instructions.”

Club for Growth Leads Coalition Urging Trump to End Taxation of “Phantom Income;” Encourages Executive Order

Rachael Slobodien - September 26th, 2017

Washington, DC – Today, Club for Growth along with nearly 30 other conservative groups sent a letter to President Trump and Treasury Secretary Steve Mnuchin asking that they issue an executive order that would index capital gains to inflation so that taxpayers are no longer forced to pay taxes on “phantom” gains.  In the letter, the conservative organizations explain that this Executive Order can essentially serve as a pro-growth “down payment” to help ignite the broader conversation of tax reform ahead of the Big Six’s proposal.

Below is the text of the letter along with a full list of organizations who signed it.

**

Dear President Trump and Secretary Mnuchin,

On behalf of the following organizations representing millions of American taxpayers, we write to strongly recommend that you end the tax injustice that is currently included in the computation of capital gains.  Specifically, we request an Executive Order that would index capital gains to inflation so that taxpayers do not pay taxes on “phantom” gains.

For much the same reason that income tax brackets were indexed to inflation over 30 years ago, we believe that it is only a matter of fairness to do the same for capital gains.

For example, if someone saving for retirement purchased an S&P index fund for $1000 in 1997 and dutifully held it for 20 years, they could now sell it for $2665.  That’s a gain of $1665.  Unfortunately, the full amount would be subject to taxation.  But $538 of that $1665 isn’t a real gain at all.  It’s phantom income that was eaten away because of inflation.  And yet, taxpayers are currently forced to pay taxes on this nonexistent income.

Signing this Executive Order would have an immediate, pro-growth effect on the American economy.  The real after-tax rate of return on all equities would immediately be priced higher – thereby increasing the wealth held by the millions of working and retired Americans who own 401ks, IRAs, mutual funds, and brokerage accounts.  It would further encourage people to expand their savings, and incentivize people to start doing so.  By preventing the money from unjustly going to the government, it could be re-invested in the economy, allowing businesses to expand, innovate, and create more jobs.

We strongly believe that this Executive Order is a pro-growth “down payment” that will help ignite the broader conversation about tax reform.  And our groups look forward to the opportunity to continue working with the Administration to enact comprehensive tax reform this fall.

(more…)