NTU urges all Senators to vote "YES" on Senator Thune's amendment to H.R. 4213, the so-called American Jobs and Closing Tax Loopholes Act.
This amendment serves as a most welcome alternative to the Majority’s legislation; the Thune proposal would provide for continuation of important expiring tax provisions, including the state and local sales tax deduction and the research and development tax credit, without enacting punitive, economically destructive tax hikes elsewhere. Furthermore, the Thune amendment would decrease the deficit by $68 billion, according to the Congressional Budget Office.
The Thune amendment would fully “pay for” the extenders bill with sensible spending reductions that should not be unfamiliar to Senators, such as rescinding $37.5 billion of the $50 billion in unobligated stimulus funds and imposing a one-year freeze on the salaries of federal employees. While we do not necessarily support efforts to further extend unemployment benefits, the greater part of this amendment is excellent and we commend Senator Thune for seeking to protect taxpayers. We must immediately begin the process of restoring fiscal responsibility and accountability to the federal budget. The Thune amendment is a great first step in that direction.
A “YES” vote on Thune Amendment #4333 will be significantly weighted in our annual Rating of Congress.
If you have any questions, please contact
NTU Federal Government Affairs Manager Jordan Forbes at (703) 683-5700