What: All Issues : Fair Taxation : Tax Breaks for the Rich : S Con Res 21. (Fiscal 2008 budget resolution), Graham of South Carolina amendment extending the 2001 tax cuts/On agreeing to the amendment (2007 senate Roll Call 107)
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S Con Res 21. (Fiscal 2008 budget resolution), Graham of South Carolina amendment extending the 2001 tax cuts/On agreeing to the amendment
senate Roll Call 107     Mar 23, 2007
Progressive Position:
Nay
Progressive Result:
Win

This vote occurred on an amendment by Lindsey Graham, R-S.C., that would extend the tax cuts championed by President Bush and enacted in 2001.

The amendment was offered to the budget resolution that serves as the blueprint for Congress' budget priorities in fiscal 2008. The budget resolution sets overall spending targets for the Appropriations committees and outlines other budget rules.

"Simply put, if you vote against this amendment, the tax rates will revert back to the 2001 levels. You would be voting to increase taxes on 28 million families and small businesses. You would be voting to increase taxes on small businesses, on an average, by more than $3,600 per year," Graham said.

Budget Committee Chairman Kent Conrad, D-N.D., countered that the 2001 tax breaks won't expire until 2010, and as such Graham's amendment is unnecessary.

"The senator's amendment also would not have the effect described by the senator. The effect the amendment would have is to reduce revenue by $117 billion. It would put us back into deficit in 2012 by $71 billion. This amendment is a budget buster," Conrad said.

The amendment was defeated 46-52. Democrats voted unanimously against it. All Republicans voted for the amendment, with the exception of Olympia Snowe of Maine and George Voinovich of Ohio. Thus the budget resolution went forward without language that would have extended the 2001 tax cuts.

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