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Jim Talent on Tax Reform

Republican Senator; previously Representative (MO-2)


Permanent repeal of death tax and marriage penalty

As Chairman of the Small Business Committee, Jim succeeded in building bipartisan support on legislation that resulted in job creation, tax relief and economic growth. Jim is committed to helping create jobs and protecting our economic security by allowing workers and families to keep more of what they earn. He supports a permanent repeal of the death tax and marriage penalty.
Source: Campaign website www.TalentForSenate.com, “Issues” Sep 24, 2002

Voted YES on supporting permanence of estate tax cuts.

Increases the estate tax exclusion to $5,000,000, effective 2015, and repeals the sunset provision for the estate and generation-skipping taxes. Lowers the estate tax rate to equal the current long-term capital gains tax rate (i.e., 15% through 2010) for taxable estates up to $25 million. Repeals after 2009 the estate tax deduction paid to states.

Proponents recommend voting YES because:

The permanent solution to the death tax challenge that we have today is a compromise. It is a compromise that prevents the death rate from escalating to 55% and the exclusion dropping to $1 million in 2011. It also includes a minimum wage increase, 40% over the next 3 years. Voting YES is a vote for that permanent death tax relief. Voting YES is for that extension of tax relief. Voting YES is for that 40% minimum wage increase. This gives us the opportunity to address an issue that will affect the typical American family, farmers, & small business owners.

Opponents recommend voting NO because:

Family businesses and family farms should not be broken up to pay taxes. With the booming economy of the 1990s, many more Americans joined the ranks of those who could face estate taxes. Raising the exemption level and lowering the rate in past legislation made sense. Under current law, in my State of Delaware, fewer than 50 families will face any estate tax in 2009. I oppose this legislation's complete repeal of the estate tax because it will cost us $750 billion. Given the world we live in today, with clear domestic needs unmet, full repeal is a luxury that we cannot afford.

To add insult to this injury, the first pay raise for minimum wage workers in 10 years is now hostage to this estate tax cut. We are told that to get those folks on minimum wage a raise, we have to go into debt, so that the sons and daughters of the 7,000 most fortunate families among us will be spared the estate tax. We must say no to this transparent gimmick.

Reference: Estate Tax and Extension of Tax Relief Act; Bill H.R. 5970 ; vote number 2006-229 on Aug 3, 2006

Voted YES on permanently repealing the `death tax`.

A cloture motion ends debate and forces a vote on the issue. In this case, voting YES implies support for permanently repealing the death tax. Voting against cloture would allow further amendments. A cloture motion requires a 3/5th majority to pass. This cloture motion failed, and there was therefore no vote on repealing the death tax.
Reference: Death Tax Repeal Permanency Act; Bill HR 8 ; vote number 2006-164 on Jun 8, 2006

Voted NO on $47B for military by repealing capital gains tax cut.

To strengthen America's military, to repeal the extension of tax rates for capital gains and dividends, to reduce the deficit, and for other purposes. Specifically, a YES vote would appropriate $47 billion to the military and would pay for it by repealing the extension of tax cuts for capital gains and dividends to 2010 back to 2008. The funds wuold be used as follows:
Reference: Tax Relief Extension Reconciliation Act; Bill S Amdt 2737 to HR 4297 ; vote number 2006-008 on Feb 2, 2006

Voted YES on retaining reduced taxes on capital gains & dividends.

Vote to reduce federal spending by $56.1 billion over five years by retaining a reduced tax rate on capital gains and dividends, as well as.
Status: Bill passed Bill passed, 66-31
Reference: Tax Relief Extension Reconciliation Act; Bill HR 4297 ; vote number 2006-010 on Feb 2, 2006

Voted YES on extending the tax cuts on capital gains and dividends.

This large piece of legislation (418 pages) includes numerous provisions, generally related to extending the tax cuts initiated by President Bush. This vote was on final passage of the bill. The specific provisions include:
  1. Extension Of Expiring Provisions: for business expenses, retirement savings contributions, higher education expenses, new markets tax credit, and deducting state and local sales taxes.
  2. Provisions Relating To Charitable Donations, and Reforming Charitable Organizations
  3. Improved Accountability of Donor Advised Funds
  4. Improvements in Efficiency and Safeguards in IRS Collection
Reference: Tax Relief Act of 2005; Bill S. 2020 ; vote number 2005-347 on Nov 18, 2005

Voted YES 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 eliminating the "marriage penalty".

Vote on a bill that would reduce taxes for married couple by approximately $195 billion over 10 years by removing provisions that make taxes for married couples higher than those for two single people. The bill is identical to HR 6 that was passed by the House in February, 2000.
Reference: Bill sponsored by Archer, R-TX; Bill HR 4810 ; vote number 2000-392 on Jul 12, 2000

Voted YES on $46 billion in tax cuts for small business.

Provide an estimated $46 billion in tax cuts over five years. Raise the minimum wage by $1 an hour over two years. Reduce estate and gift taxes, grant a full deduction on health insurance for self-employed individuals, increase the deductible percentage of business meal expenses to 60 percent in 2002, and designate 15 renewal communities in urban rural areas.
Reference: Bill sponsored by Lazio, R-NY; Bill HR 3081 ; vote number 2000-41 on Mar 9, 2000

Rated 72% by NTU, indicating "Satisfactory" on tax votes.

Talent scores 72% 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

Repeal marriage tax; cut middle class taxes.

Talent signed the Contract with America:

[As part of the Contract with America, within 100 days we pledge to bring to the House Floor the following bill]:

The American Dream Restoration Act:
A $500-per-child tax credit, begin repeal of the marriage tax penalty, and creation of American Dream Savings Accounts to provide middle-class tax relief.
Source: Contract with America 93-CWA7 on Sep 27, 1994

Other candidates on Tax Reform: Jim Talent on other issues:
MO Gubernatorial:
Jay Nixon
MO Senatorial:
Claire McCaskill
Kit Bond

Newly elected in 2008 & seated in 2009:
AK:Begich (D)
CO:Udall (D)
ID:Risch (R)
MN:Franken (D)
NC:Hagan (D)
NE:Johanns (R)
NH:Shaheen (D)
NM:Udall (D)
OR:Merkley (D)
VA:Warner (D)

Newly appointed in 2009;
special election in 2010:

DE:Kaufman (D)
CO:Bennet (D)
IL:Burris (D)
NY:Gillibrand (D)

Announced retirement as of 2010:
DE:Kaufman (D)
FL:Martinez (R)
KS:Brownback (R)
MO:Bond (R)
OH:Voinovich (R)


Up for 6-year term in 2010:
(13 Democrats; 15 Republicans)
AK:Murkowski (R)
AL:Shelby (R)
AR:Lincoln (D)
AZ:McCain (R)
CA:Boxer (D)
CT:Dodd (D)
GA:Isakson (R)
HI:Inouye (D)
IA:Grassley (R)
ID:Crapo (R)
IN:Bayh (D)
KY:Bunning (R)
LA:Vitter (R)
MD:Mikulski (D)
NC:Burr (R)
ND:Dorgan (D)
NH:Gregg (R)
NV:Reid (D)
NY:Schumer (D)
OK:Coburn (R)
OR:Wyden (D)
PA:Specter (R)
SC:DeMint (R)
SD:Thune (R)
UT:Bennett (R)
VT:Leahy (D)
WA:Murray (D)
WI:Feingold (D)
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Page last updated: Nov 22, 2009