Legislative Watch Votes That Can Forever Change Our Lives -By Carolyn CormeyFlorida Congressmen Young and Bilirakis Both Voted for the controversial Tax-Target AIG Bonus Bill (HR-1586) “To impose an additional tax on bonuses received from TARP recipients.” This Bill targets a specific group of American Citizens, (working for companies receiving TARP Funds) with a retroactive 90% tax of adjusted gross incomes over $250.000 or $125,000 in the case of a married individual filing a separate return. While we are all enraged about our money being used to pay these bonuses, we need to remember that they were authorized by Senator Dodd with other Senate and Congressional Leaders working in conjunction with the Administration. In our fury, we seem to have missed the fact that the total amount of these bonuses is a fraction of a percent of the money given to AIG and with the knowledge of these same Legislators, AIG has been funneling much of our money to foreign banks, to bail them out! In retroactively tax-targeting a specific group, think about how this will affect the Administration’s NEW Plan to partnership government with private investment groups to divest banks of toxic assets. As a “private investment group,” how anxious will you be to “partner” with a government that is led by a Congress who has just proven that they have no problem at all in targeting specific groups of citizens with retroactive, punitive income taxes. These private investment groups have got to be wondering if someday, Congress will target them with punitive, retroactive taxes if Congress decides that they made too much profit . . .a very slippery slope! THIS BILL HAS BEEN PASSED BY THE HOUSE AND IS NOW GOING TO THE SENATE FOR VOTE. Both Voted against the controversial Mortgage Cramdown Bill “Homeowner Rescue Bill” (HR-1106) which allows a court judge to change interest rates and contract conditions of existing mortgages, forcing mortgage holders to simply “accept” these changes. The Bill sets forth an expiration date for “Cramdown” BUT we all know that once this door has been opened, it will be easy for Congress to extend the expiration date OR to open the door to “Cramdown” again at any time. This is like tying a tourniquet on an arm so tight that it shuts off the blood supply and the arm dies without flow of blood. If the goal is to get lenders lending again . . . how anxious will lenders be to make 30-year mortgage contracts with borrowers in the future? With “Cramdown” hanging out there as a “threat,” lending may be changed forever, becoming more expensive with shorter mortgage terms. Thirty year mortgages may become a memory of the past. THIS BILL HAS BEEN PASSED BY THE HOUSE AND IS NOW GOING TO THE SENATE FOR VOTE. Both Will soon vote for or against “The Employee Free Choice Act,” HR-1497, the House version of was quietly introduced on March 10th. Senator Bill Nelson Senator Nelson is a Co-Sponsor of “The Employee Free Choice Act,” (S-560), also introduced on March 10th, It is the Senate Companion Bill the House version HR-1497. He will be voting for “The Employee Free Choice Act,” which among other things, takes from employees, the right to a secret ballot in bringing unions into their work place, retaining unions or kicking them out. Introducing the same Bill in both the Senate and the House at the same time, is a procedural control issue process that allows the Bill to keep a low profile until it is scheduled for vote, probably the same day in both the House and the Senate. The Bill is rammed through before opposing groups have time to mobilize. Has made no statement on whether he intends to vote for or against either the AIG Bonus tax Bill OR the Mortgage Cramdown Bill when they both come up for vote in the Senate. Senator Mel Martinez Has made no statement on whether he intends to vote for or against either the AIG Bonus tax Bill OR the Mortgage Cramdown Bill when they both come up for vote in the Senate. Senator Martinez has said he is not in favor of taking away secret ballots from employees AND he also has other concerns about further restrictions to small businesses in these economic hard times, forcing them to close down and take jobs out of the workplace. However, he has made no official statement about how he will vote on (S-560) The Employee Free Choice Act.” We are angry. We are frustrated. We simply do not have the luxury of giving in to hopelessness. The “others” we have been expecting to take care of things for us, have not been doing their jobs. Now it is up to YOU and ME. The “Silent Majority” has remained silent too long and look where this has gotten us. Go to www.contactthecongress.org and fax/call/email: Your Senators your thoughts on how you want them to vote on “The Employee Free Choice Act” (S-560); The AIG Bonus Bill, (HR-1586) AND the Mortgage Cramdown Bill (HR-1106). These votes are coming soon! Your Congressman to give your thoughts on how they should vote on “The Employee Free Choice Act” (HR-1497). Also tell them your feelings about the AIG Bonus Tax-Target Bill AND the Mortgage Cramdown Bill that the House passed that may forever change the mortgages we are able to get when we buy homes in the future Take a look at the non-partisan website that brings together the silent majority who want to unite in the cause of fiscal responsibility. www.newamericanteaparty.com
|