Rick Lazio on Tax Reform

Supports a “significant tax cut”

He supported a “significant tax cut”, though he stopped short of endorsing the one supported b George W. Bush. He also said he was open to allowing some private investment of Social Security funds. Source: New York Times, p. A19 May 22, 2000

Limit tax burden: 38% is too high

Each year, the average American family pays 38% of its income in taxes, more than the combined costs of food, clothing and shelter. Last year, federal taxes consumed more than 20% of national production (GDP). Not since World War II has the burden on the American worker been so high. Federal income taxes have grown more than 70% during the Clinton/Gore administration. The need for strong efforts to limit these burden is self evident. Source: Issues Briefing, www.lazio.com May 4, 2000

Marriage is sacred event, not a taxable event

There are thousands paying more in taxes because they are married. Now they can breathe a sigh of relief knowing they will be able to keep more of their hard-earned money. This savings can be used for a new washing machine, a home computer or to help out with the car payments. Marriage is sacred event, not a taxable event These men and women went to the altar and said ‘I do’ to a lifetime of love and devotion - not higher taxes. I wholeheartedly support getting rid of this immoral tax. Source: Press Release; by Heather O’Farrell Feb 10, 2000

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

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