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Jon Corzine on Tax Reform
Democratic Jr Senator (NJ)
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Targeted tax cuts including ending marriage penalty
We should have targeted tax cuts including addressing the marriage penalty. I both want to raise and equalize the standard deduction for married couples. I also want to raise the top of the 15% tax bracket which will take care of [middle-income
couples]. I believe that we need to take careful aim at where we do have targeted tax cuts, working for long-term care, earned income tax credit expansion at the lower end where people are struggling to make ends meet.
Source: NJ Senatorial debate with Rep. Bob Franks
Oct 9, 2000
Too-large GOP tax cuts foreclose on social investments
Q: Gore criticized Bush’s tax cut proposal, saying it was too large and that more than 40 percent of the dollars would go to the richest 1% of the population. Your views? A: This month, [my opponent] Congressman Franks proposed that we eliminate the
capital gains tax. He talked about across-the-board tax cuts. He talked about the marriage penalty proposal that he’s talked about, which actually is a new way of providing tax cuts for high-income folks, in addition to the folks that do deserve marriage
penalty relief, and an elimination of the inheritance tax. If you add all those up and just divide by two what Governor Bush’s proposal is with regard to tax cuts on an across-the-board basis, you come up to 1.8 trillion in tax cuts. That will foreclose
anyone from having the ability to invest in our education, protect our environment, our health care, shore up Medicare, all of the things that I think people want to see us invest in.
Source: NJ Senatorial debate with Rep. Bob Franks
Oct 9, 2000
Opposes making income tax flatter & lower
I will be an advocate of tax justice for all - and I will fight special breaks for special interests. I will propose investments in America that will lead to new technologies, revitalize our cities and provide for a cleaner, healthier environment.
I want to fight for laws that ensure that our workplaces are safe, and the right to organize is secure. I will stand with labor in proposing a trade policy that is free, but fair.
Source: Speech, "An Economic Vision for America", Feb. 22, 2000
Sep 19, 2000
Voted NO on $350 billion in tax breaks over 11 years.
H.R. 2 Conference Report; Jobs and Growth Tax Relief Reconciliation Act of 2003. Vote to adopt the conference report on the bill that would make available $350 billion in tax breaks over 11 years. It would provide $20 billion in state aid that consists of $10 billion for Medicaid and $10 billion to be used at states' judgment. The agreement contains a new top tax rate of 15 percent on capital gains and dividends through 2007 (5 percent for lower-income taxpayers in 2007 and no tax in 2008). Income tax cuts enacted in 2001 and planned to take effect in 2006 would be accelerated. The child tax credit would be raised to $1,000 through 2004. The standard deduction for married couples would be double that for a single filer through 2004. Tax breaks for businesses would include expanding the deduction that small businesses could take on investments to $100,000 through 2005.
Reference:
Bill HR.2
; vote number 2003-196
on May 23, 2003
Voted YES on reducing marriage penalty instead of cutting top tax rates.
Vote to expand the standard deduction and 15% income tax bracket for couples. The elimination of the "marriage penalty" tax would be offset by reducing the marginal tax rate reductions for the top two rate bracket
Reference:
Bill HR 1836
; vote number 2001-112
on May 17, 2001
Voted YES on increasing tax deductions for college tuition.
Vote to increase the tax deduction for college tuition costs from $5,000 to $12,000 and increase the tax credit on student loan interest from $500 to $1,000. The expense would be offset by limiting the cut in the top estate tax rate to 53%.
Reference:
Bill HR 1836
; vote number 2001-114
on May 17, 2001
Rated 17% by NTU, indicating a "Big Spender" on tax votes.
Corzine scores 17% by NTU on tax-lowering policies
Every year National Taxpayers Union (NTU) rates U.S. Representatives and Senators on their actual votes—every vote that significantly affects taxes, spending, debt, and regulatory burdens on consumers and taxpayers. NTU assigned weights to the votes, reflecting the importance of each vote’s effect. NTU has no partisan axe to grind. All Members of Congress are treated the same regardless of political affiliation. Our only constituency is the overburdened American taxpayer. Grades are given impartially, based on the Taxpayer Score. The Taxpayer Score measures the strength of support for reducing spending and regulation and opposing higher taxes. In general, a higher score is better because it means a Member of Congress voted to lessen or limit the burden on taxpayers.
The Taxpayer Score can range between zero and 100. We do not expect anyone to score a 100, nor has any legislator ever scored a perfect 100 in the multi-year history of the comprehensive NTU scoring system. A high score does not mean that the Member of Congress was opposed to all spending or all programs. High-scoring Members have indicated that they would vote for many programs if the amount of spending were lower. A Member who wants to increase spending on some programs can achieve a high score if he or she votes for offsetting cuts in other programs. A zero score would indicate that the Member of Congress approved every spending proposal and opposed every pro-taxpayer reform.
Source: NTU website 03n-NTU on Dec 31, 2003