October 16th, 2007
Washington, DC – Congressman Ron Paul has signed on to co-sponsor legislation that will repeal the Alternative Minimum Tax on individuals and replace it with an alternative, simplified tax that individuals may choose.
The Taxpayer Choice Act of 2007 H.R. 3818 would completely repeal the Alternative Minimum Tax, which was originally enacted to impose taxes on a small number (originally only 155) of the wealthiest Americans. Because the tax is not indexed to inflation, more and more Americans are falling under the AMT trap. Temporary increases in the exemption amount have been extended until the end of 2010. If the AMT is not repealed, 50 million taxpayers will be affected within a decade, up from 3.5 million in 2006.
In addition, H.R. 3818 introduces a highly simplified tax alternative with tax brackets at 10% and 25%, a generous standard exemption and no special deductions. Taxpayers who are frustrated and bewildered by our current complicated tax code can opt-in to this simplified version, which is designed to be revenue neutral, but very transparent and much easier to administer. It is indexed to inflation.
“This new tax structure could greatly reduce the cost of compliance, and make the financial pretzels we twist ourselves into to reduce our tax burden a thing of the past. It would certainly be better than what we have now, so I hope my colleagues in Congress will join me in supporting this bill,” stated Congressman Paul.
Posted in Press Releases | Comments Off
Similar posts:
September 27th, 2007
Washington, DC – Congressman Ron Paul has introduced legislation that would ease the tax burden on some of America ’s hardest workers – those in the service industry.
The Tax Free Tips Act of 2007 H.R. 3664 would exempt tips and gratuities from federal income and payroll taxes. Tips often compose a substantial portion of the earnings of waiters, waitresses, and other service-sector employees. However, unlike regular wages, a service-sector employee usually has no guarantee of, or legal right to, a tip. Instead, the amount of a tip usually depends on how well an employee satisfies a client. Since the amount of taxes one pays increases along with the size of tip, taxing tips punishes workers for doing a superior job!
Not only that, but the IRS estimates how much in tips an employee should have received and taxes them based on that, whether they actually received that amount or not. This should stop.
“Many service-sector employers are young people trying to make money to pay for their education, or single parents struggling to provide for their children. Oftentimes, these workers work two jobs in hopes of making a better life for themselves and their families. The Tax Free Tips Act gives these hard-working Americans an immediate pay raise. People may use this pay raise to devote more resources to their children’s, or their own, education, or to save for a home, retirement, or to start their own businesses,” stated Congressman Paul.
Posted in Press Releases | Comments Off
Similar posts:
September 12th, 2007
Washington, DC – Congressman Ron Paul has signed on as a cosponsor of legislation that would ease the tax burden on America ’s parents, struggling with child care expenses.
The Right Start Child Care and Education Act of 2007 is a comprehensive reform that increases the existing child care tax credit to $5,000 (from $2,400) for the first child and $10,000 for the second. It also increases the current business tax credit for providing child care services at work from $150,000 a year to $225,000. And it creates the “Right Start Child Care Professional” tax credit to encourage college graduates to choose child care as a profession.
Between the income tax, sales tax, property tax, gas tax, capital gains tax, the cost of regulatory compliance and various licenses and fees, an average of 52% of national income goes to government in one form or another. According to Americans for Prosperity, Texans work more than half the year just to pay for government.
The Dependent and Child Care Tax Credit has been increased only once in the last 25 years. Yet, inflation and child care costs are on the rise and have become the next largest expense after mortgage or rent for most families with young children.
“With a mountain of taxes to pay, having one parent stay at home is no longer a viable option for many Americans. The least the government can do for parents making these difficult decisions is to ease the tax burden on them and make it more economical for places of employment to provide on-site child care. Repealing all income taxes is my ultimate goal, but this bill, which allows American parents to keep more of their own money, is a step in the right direction.” Stated Congressman Paul.
Posted in Press Releases | Comments Off
Similar posts:
September 6th, 2007
Washington , DC . Congressman Ron Paul took action today to shield American homeowners from an outrageously unfair IRS tax policy by cosponsoring The Mortgage Cancellation Relief Act.
H.R. 1876 bars the IRS from considering partial mortgage forgiveness as income subject to taxation.
Under current law, only two categories of individuals pay taxes when selling their principle residence: those who have been able to realize a capital gain of more than $250,000 ($500,000 on a joint return) and those who lose the equity in their home and are forced to pay taxes if the lender forgives some portion of the mortgage debt.
“In these difficult times with the credit crunch and housing market downturn, some homeowners are finding it more and more difficult to avoid foreclosure and stay in their homes. If the bank allows a homeowner leeway and renegotiates with them in lieu of foreclosure, the IRS should not victimize the homeowner for doing the best they can to pay their debt.” Stated Congressman Paul.
Now is not the time to increase the tax burden on struggling homeowners. Strict reins must be put on the IRS by Congress to limit as much as possible the damage it does to the taxpayer and to the American dream.
Posted in Press Releases | Comments Off
Similar posts:
April 26th, 2007
Washington, DC: This year marks the 26 th anniversary of the Congressional art competition, which brings together thousands of high school students from across the country seeking to represent their congressional districts.
The winning entries hang in a hallway within the U.S. Capitol complex in Washington, DC for one year.
More than 90 students from around the 14 th congressional district submitted entries, which were judged by members of the Brazosport Art League. Congratulations are in order for the following participants:
Winning Entry:
“Jazzfest” (painting)
Breanna Lewis , Danbury High School
Honorable Mention:
John Pena, Angleton High School
Bronzon Galzier, Angleton High School
Saul Shaw, Angleton High School
Krystal Cannon, Angleton High School
Seth Pennington, Angleton High School
David Hathway, El Campo High School
Posted in Press Releases | Comments Off
Similar posts:
April 17th, 2007
Lake Jackson, TX: This year marks the 26th anniversary of the Congressional art competition. Every congressional district picks one eventual winner for the prestigious honor of representing it in Washington DC.
More than 90 high school students from across the 14 th congressional district have submitted entries. The winning piece will hang in the United States Capitol in Washington for one year. Since the competition began in 1982, hundreds of thousands of high school students nationwide have participated. The following members of the Brazosport Art League will serve as judges: Lillie Alcala – President of Brazosport Art League, Mary Bates Sechrest – Member of the Brazosport Art League, and Amy Chen – Public Relation for the Brazosport Art League
Good luck to the following students!
Memorial High School – Eva Desiree Yates (teacher)
Crystal Strait – 12 th Grade
El Campo High School – Amanda Morton (teacher)
Nicholas Joe Gutierrez – 9 th Grade
David Hathway – 12 th Grade
Katy Rice – 12 th Grade
Danbury High School – Robin Ater (teacher)
Breanna Lewis – 11 th Grade
Ed White Memorial High School -
Danielle J. McClellan Rodriguez – 10 th Grade
Angleton High School – Eszter Weress (teacher)
Christina Barclay – 10 th Grade
Regena Barnes – 10 th Grade
Chase Bieri – 12 th Grade
Bailey Birk – 11 th Grade
Marie Bosserman – 12 th Grade
Kristin Brusch – 10 th Grade
Charles Burke – 10 th Grade
Brittany Cameron – 10 th Grade
Krystal Cannon – 11 th Grade
Charles Cannon – 9 th Grade
Stewart Christensen – 9 th Grade
Justin Vacender – 11 th Grade
Heather De Los Reyes – 11 th Grade
Sha’Nikwa Dumes – 12 th Grade
Malissa Dunn – 12 th Grade
Cynthia Escamilla – 12 th Grade
Bronzon Glazier – 11 th Grade
Jesse Gomez – 10 th Grade
Amy Gonzalez – 9 th Grade
Courtney Howes – 11 th Grade
Justin Hubenak – 12 th Grade
Trey Hundl – 12 th Grade
Stacy Jackson – 12 th Grade
Brittanie Jansen – 12 th Grade
O’Neill Jusselle – 11 th Grade
Leslie La Chance – 10 th Grade
Lauren Lanehart – 12 th Grade
Brittany Ledford – 11 th Grade
Jennah Lewis – 12 th Grade
Justin Linder – 12 th Grade
Enma Lopez – 11 th Grade
Sahul Martinez – 12 th Grade
Kristin Mathew – 12 th Grade
Stefan Mitchell – 9 th Grade
John M. Pena – 11 th Grade
Seth Pennington – 10 th Grade
Alicia Rabago – 11 th Grade
Mary Rees – 12 th Grade
Mark Roy – 12 th Grade
Ana Salas – 10 th Grade
Rosa Salas – 12 th Grade
Kristen Sbrusch – 10 th Grade
Matthew Scheineman – 10 th Grade
Stacie Sedillo – 12 th Grade
Saul Shaw – 11 th Grade
Cortney Sherman – 10 th Grade
Ashley Silva – 12 th Grade
Cynthia Skach – 12 th Grade
Alex Smith – 11 th Grade
Brett Speed – 12 th Grade
Michael Staten – 11 th Grade
Cynthia Steach – 12 th Grade
Jordon Struthers – 12 th Grade
Cristina Tamayo – 10 th Grade
Chris Tidwell – 11 th Grade
Elizabeth Vallejo -12 th Grade
Jacob Velasco – 12 th Grade
Jeremy Verde – 12 th Grade
Baylea Wagener – 11 th Grade
Kimberly Walcik – 12 th Grade
Posted in Press Releases | Comments Off
Similar posts:
February 21st, 2007
Washington, DC: Congressman Ron Paul has been recognized as a top advocate for taxpayers in the U.S. Congress for the tenth year in a row, earning the nonpartisan National Taxpayers Union’s annual award as a “Taxpayers’ Friend” for 2006. Only 30 of 435 members in the U.S. House of Representatives earned similar honors last year.
The annual NTU rating is based on critical congressional votes relating to federal tax, spending, and regulatory issues. Paul consistently ranks at or near the top of NTU’s scorecard in terms of his pro-taxpayer votes.
Overall, however, Congress is slipping when it comes to serving the least-represented special interest of all – American taxpayers.
“If every member of Congress voted like Representative Paul, Americans could enjoy much lower taxes and less waste in government,” stated NTU President John Berthoud. “Overburdened taxpayers in Texas and across the nation owe Mr. Paul a debt of gratitude for his hard work on their behalf.”
“While many Members of Congress talk about reducing the size of government, Representative Paul backed up those words with votes. This award proves that he/she is a consistent and effective ally in our battle to restore fiscal responsibility to Washington.”
Posted in Press Releases | Comments Off
Similar posts:
January 10th, 2007
Washington, DC: Congressional leaders recently named Representative Ron Paul as the top Republican on an important House Financial Services subcommittee. Paul is the new Ranking Member of the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
“The House Financial Services Committee will face a number of important issues during the 110th Congress,” stated Rep.Spencer Bachus, Ranking Member of the committee. “During my service on the committee, I have gotten to know Congressman Paul very well. He is a top-notch legislator who will perform his new duties with integrity, thoughtfulness, and energy.”
The Monetary Policy subcommittee plays a key role in the nation’s economic affairs. As ranking member, Paul will meet several times each year with Federal Reserve Chairman Bernanke to address ongoing issues of inflation that affect the pocketbook of every American. Paul also will call witnesses to appear before the subcommittee, and draft legislation to stabilize and strengthen the U.S. dollar.
Republican leaders in Congress selected Paul based on his broad knowledge of economics and his many years of seniority on the (previously named) House Banking committee dating back to the late 1970s. In the 1980s, Paul was appointed by a Democratic congress to the acclaimed Gold Commission. Paul is widely credited as a congressional expert on economic and monetary policy, and is known for his ability to work with both sides of the aisle in crafting legislation.
“I look forward to working with my colleagues to address the financial issues facing all Americans, and I’m gratified to accept a leadership position on the Financial Services committee,” Paul stated.
Posted in Press Releases | Comments Off
Similar posts:
December 8th, 2006
Washington, DC: Congress today passed needed legislation that will allow Texas taxpayers to continue claiming a federal tax deduction for sales taxes paid in Texas. Had Congress not acted, residents of Texas (and other states without a state income tax) would have been denied this deduction when computing their 2006 federal tax returns. The sales tax deduction was included as part of a much larger tax, healthcare, and energy bill.
Texans have been discriminated against by our tax rules since 1987. Most American taxpayers are able to deduct their state income taxes from their federal tax bill. However, citizens of Texas (and other states with no income tax) obviously cannot claim such a deduction, and the deduction for states sales taxes was eliminated in 1987. As a result, Texans have paid proportionately more income taxes than residents of many other states.
Congress passed legislation in 2004 that allowed taxpayers to claim an itemized federal deduction for state and local sales taxes, but only for 2004 and 2005. The bill passed today extends this deduction for 2006 and 2007. Taxpayers can either accumulate receipts and deduct the total amount, or use tables produced by the Internal Revenue Service.
Posted in Press Releases | Comments Off
Similar posts: