What: All Issues : Fair Taxation : Tax Breaks for the Rich : HR 4931. Pension Tax Incentives/Vote on Rules of Debate on a Bill to Create a Complex Set of Tax Incentives for Pension Contributions that Fails to Address Issues of Corporate Corruption Involving Employee Pension Accounts. (2002 house Roll Call 245)
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HR 4931. Pension Tax Incentives/Vote on Rules of Debate on a Bill to Create a Complex Set of Tax Incentives for Pension Contributions that Fails to Address Issues of Corporate Corruption Involving Employee Pension Accounts.
house Roll Call 245     Jun 21, 2002
Progressive Position:
Nay
Progressive Result:
Loss

Throughout 2002, Republicans made a concerted attempt to make permanent the various temporary provisions in the $1.3 trillion Bush tax cut of 2001. One such attempt concerned the tax breaks to encourage more pension and retirement contributions. Progressives opposed these attempts, arguing that extending such incentives was useless if corporate corruption was not addressed first, because executives could always destroy any retirement program through their own misbehavior. Moreover, there were concerns that the pension tax breaks under consideration were technically complex enough that only the wealthy would truly take advantage of them. In the House, most bills debated on the floor come with a set of rules for debate that are passed separately from the bill itself. If the rule fails, the bill effectively fails as well. Progressives attempted to kill the pension tax break by voting down its corresponding rule, but they were strongly outnumbered, 344-52.

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