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Bob Schaffer on Free Trade

Senate challenger 2008; previously Republican Representative (CO-4)


Reducing repatriation tax pumps capital into economy

Udall called Schaffer's idea for chopping the tax charged on money repatriated to US banks a "giveaway to companies that send jobs overseas."

"When you give these companies a [tax] holiday, that rewards these companies for creating these jobs overseas & not here," Udall said.

Schaffer, however, said a temporary reduction in the repatriation tax would, in fact, strengthen the US economy. "What would be a more powerful boost to the economy is exploring multiple strategies to pump private capital, real dollars, into the economy," Schaffer said. He said Congress did this as recently as 2004, dropping the repatriation tax from 35% to 5.25%, bringing $362 billion into US banks.

Schaffer said Udall's criticism of the plan to lower the repatriation tax is curious: "He voted for it at its last step before it went to the president," Schaffer said. According to congressional records, Udall voted for the 2004 American Jobs Creation Act on Oct. 4, 2004, after he voted against it in June.

Source: 2008 Colorado Senate debate reported in The Daily Sentinel Sep 25, 2008

Voted YES on withdrawing from the WTO.

Vote on withdrawing Congressional approval from the agreement establishing the World Trade Organization [WTO].
Reference: Resolution sponsored by Paul, R-TX; Bill H J Res 90 ; vote number 2000-310 on Jun 21, 2000

Voted YES on 'Fast Track' authority for trade agreements.

Vote to establish negotiating objectives for trade agreements between the United States and foreign countries and renew 'fast track' authority for the President.
Reference: Bill introduced by Archer, R-TX.; Bill HR 2621 ; vote number 1998-466 on Sep 25, 1998

Other candidates on Free Trade: Bob Schaffer on other issues:
CO Gubernatorial:
Bill Ritter
CO Senatorial:
Ken Salazar
Mark Udall
Wayne Allard


2008 Senate retirements:

Wayne Allard(R,CO)
Larry Craig(R,ID)
Pete Domenici(R,NM)
Chuck Hagel(R,NE)
Trent Lott(R,MS)
Craig Thomas(R,WY)
John Warner(R,VA)

Incoming Obama Administration:

Pres.Barack Obama
V.P.Joe Biden
State:Hillary Clinton
HHS:Tom Daschle
Staff:Rahm Emanuel
DHS:Janet Napolitano
DOC:Bill Richardson
DoD:Robert Gates
A.G.:Eric Holder
Treas.:Tim Geithner
Winners of 2008 Senate Races:
( * if new to the Senate)
AK:*Begich over Stevens
AL:Sessions
AR:Pryor
CO:*Udall
DE:Biden and Kaufman
GA:Chambliss v.Martin (Dec. 2 runoff)
IA:Harkin
ID:*Risch
IL:Durbin
KS:Roberts
KY:McConnell
LA:Landrieu
MA:Kerry
ME:Collins
MI:Levin
MN:Coleman v.Franken (recounting as of Dec.1)
MS4:Wicker
MS6:Cochran
MT:Baucus
NC:*Hagan over Dole
NE:*Johanns
NH:*Shaheen over Sununu
NJ:Lautenberg
NM:*Udall
OK:Inhofe
OR:*Merkley over Smith
RI:Reed
SC:Graham
SD:Johnson
TN:Alexander
TX:Cornyn
VA:*Warner
WV:Rockefeller
WY4:Barrasso
WY6:Enzi
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Page last updated: Dec 02, 2008