What: All Issues : Fair Taxation : S. 1054. Tax Reductions/Vote to Reduce the Amount Provided in Tax Cuts for Wealthy Individuals. (2003 senate Roll Call 173)
 Who: All Members
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S. 1054. Tax Reductions/Vote to Reduce the Amount Provided in Tax Cuts for Wealthy Individuals.
senate Roll Call 173     May 15, 2003
Progressive Position:
Yea
Progressive Result:
Loss

The GOP-drafted tax cut bill contains tax breaks-such as the elimination of the dividends tax and a reduction in the highest marginal income tax rate-that disproportionately benefit wealthy individuals. In an effort to reduce the disparity between the amount provided in the bill for tax breaks that benefit high-income taxpayers and those provided to low and middle income individuals, Senator Edward Kennedy (D-MA) offered an amendment which would have eliminated the dividends tax cut and limited the reduction in the highest marginal tax rate (the highest marginal rate applies to income in excess of $1,171,000). In the view of Progressives, tax breaks should be applied equally to taxpayers in all income groups and supported the Kennedy amendment as a way to insure fairness in the tax code. Democrats voted overwhelmingly for the Kennedy measure but it was defeated on a 48-52 vote.

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