Francesca Lobato on Tax Reform

Democratic Senate Challenger

Inheritance tax above $2 million shouldn't be repealed

In 1981 and 2001, Domenici voted to give windfall tax-dollars to the wealthiest 1% of Americans. In 1981, Domenici voted to reduce the federal inheritance tax by 20%. When did you last hear of workers receiving a 20% salary increase in a year? In May 2001, Domenici voted to repeal federal inheritance taxes altogether. Few people realize the pre-2001 federal inheritance law allowed $2 million of inherited wealth to pass TAX FREE between generations. Source: Campaign website, www.infoimagination.org/lobatoforsenate/ Feb 22, 2006

End irresponsible repeal of federal tax laws

In early 2001, with a slowing economy, it was irresponsible for Domenici and Republicans to vote for tax cuts for the wealthy and corporations. Lobato says no tax cuts until Congress stops using Social Security trust funds to operate the federal government and until Congress repays money borrowed from Social Security. Lobato says our State's economic and social situation demand fair taxation, not irresponsible repeal of federal tax laws. Source: Campaign website, www.infoimagination.org/lobatoforsenate/ Feb 22, 2006

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