Whitehouse & Hinckley Spar Over Tax Plans
Saturday, July 28, 2012
Republican Senate candidate Barry Hinckley this week took Senator Sheldon Whitehouse to task for voting in favor of a tax cut bill that his little chance of being passed by the House of Representatives.
Hinckley claims the Middle Class Tax Cut, which extends many of the Bush tax cuts with the exception of the wealthiest two percent of Americans, will devastate small business owners throughout the state and across the country. He joined the Chamber of Commerce, the National Federation of Independent Business, the National Association of Manufacturers and the National Association of Wholesale-Distributors in opposing the legislation.
Hinckley ripped Senate Democrats for placing ideology above good policy and said that he believes the goal should be to create a simpler tax code.
“I have long been an advocate for comprehensive tax reform with the end goal of a fairer, simpler tax code with fewer loopholes and carve-outs for special interests,” Hinckley said. “There is already bipartisan agreement that this needs to happen, but partisan gridlock continues to prevent any progress. This is yet another sign that we need to send new leaders to Washington on our behalf.”
The plan extends all tax cuts for individuals who make up to $200,000 and for married couples who make up to $250,000. It also extends other tax provisions critical to the middle class – the American Opportunity Tax Credit, the expanded Child Tax Credit and Earned Income Tax Credit – that supporters say families afford college, cover their bills and provide for their children.
Early in the week, Whitehosue gave a speech on the Senate floor in support of the bill.
“We have the opportunity to deliver some tax certainty to the American people by advancing the Middle Class Tax Cuts Act,” he said. “This legislation would prevent tax rates from increasing for the vast majority of families and would preserve an important tax credit that currently helps millions of students afford the costs of a higher education. This bill is the right thing to do for the middle class, and I intend to vote for it.”
Hinckley said he agrees that it may be necessary to raise taxes on the wealthy, but said “out-of-control spending needs to be addressed first.
“When we get serious about addressing our destructive fiscal deficit and our broken tax code, it is quite possible that we will have to ask the very wealthy to pay more,” Hinckley said. “That’s just math. But how can we possibly ask people to pay more when Washington politicians are showing that they care more about partisan ploys than in taking any serious action to address our out-of-control spending and massive deficits.”