6/17/2008 - Trying to Have it Both Ways: Susan Collins Votes Against Middle-Class Tax Package Before She Votes Against It
CONTACT: Rebecca Pollard(207) 772-4353
DOES THE SENATOR REGRET HER RECORD OF SUPPORT
FOR BUSH ECONOMIC POLICIES?
(PORTLAND, MAINE) - In an election year political maneuver, Susan Collins today backtracked on a vote she made against Maine's middle class last week when she said "no" to a package of tax credits that included college tuition tax credits, provisions to help teachers who purchase their own school supplies, and efforts to jumpstart clean energy industries.
"Trying to have it both ways, Susan Collins today changed her vote from last week," said Rebecca Pollard, Maine Democratic Party spokesperson. "Last week, she stayed true to her form of supporting Bush-Cheney economic policies that favor the wealthiest 1 percent and big corporations. Today, she had an election year conversion and voted for the middle class extensions.
"What Mainers need to know is how she really feels, because she just can't have it both ways."
Until today's flip-flop, Collins has maintained her long record of support for President Bush's policies, as evidenced by her vote for 100 percent of his economic policies that have favored Big Oil, multinationals moving jobs overseas, and the wealthiest 1 percent of Americans.
"Over the years Susan Collins has supported many tax breaks favoring the wealthiest Americans and the biggest corporations. While we are happy that now she joins the rest of the Maine delegation to support this bill, she needs to tell Maine voters if she regrets all of those other votes against Maine's middle class and small businesses," Pollard said.
Both last week and today, Maine's other Republican Senator, Olympia Snowe, voted in favor of the middle class tax credits, many of which are offset by the repeal or delay of tax breaks aimed at helping multinational corporations. U.S. Reps. Tom Allen and Mike Michaud also voted in favor of the bill (May 21st).
Facts on the bill:
- In Maine 16,026 families use the tuition tax credit. This amounts to over $40 million in deductions - with an average per family credit of $1,120.
- In Maine 17,938 teachers use the teacher expense deduction, which allows them to buy supplies for their class rooms.
- The legislation extends the child tax credit for 37,910 children in Maine.
- 84 businesses in Maine use the research and development tax credit.
- The bill helps alleviate more middle-class Mainers from the Alternative Minimum Tax (AMT), which over time has become an unfair burden on the middle class and needs to be updated. This bill increases the exemption amounts to $46,200 (individuals) and $69,950 (married filing jointly) for 2008.
- Current law allows taxpayers who itemize their tax returns to deduct local property taxes. This bill provides a one-year deduction of $350 ($700 for married filing jointly) for property taxes for non-itemizing taxpayers.
- The bill extends and modifies tax credits for wind and solar energy development and expansion, efforts to make residential properties more energy efficient, and an array of other renewable energy projects-from biomass to carbon sequestration. The long-awaited extension of these credits is necessary to incentivize pending projects to go forward by reinforcing the investment market.
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