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More Conservatives, Including FreedomWorks, Urge Support For Tax Deal

December 10th, 2010 by MarkTwain · No Comments

In the last couple of days, even more prominent conservatives and conservative organizations have announced their support for the tax framework negotiated by Republicans with the White House that prevents taxes from going up in January.

Last night, FreedomWorks President Matt Kibbe wrote in a letter to senators, “I am writing today to offer our support for the general framework for the compromise tax proposal announced by President Obama and leaders in Congress.  It is not our ideal proposal, but it is worth supporting while concurrently pushing for a major overhaul of the entire tax code and major spending reductions. . . . Ultimately, we want fundamental tax reform and serious spending cuts so Washington may be both less of a burden on the economy and also live within the means taxpayers are willing to provide.  We believe this compromise puts us in a better position to achieve those goals than letting tax rates go up dramatically on January 1st, 2011.”

Keith Hennessey, former senior White House economic advisor to President George W. Bush, wrote Wednesday, “Given a Democratic President, this is the best possible deal that could be reasonably expected.” He argues, “This bill is an enormous policy win because the effective changes actually go beyond 2012.  Along with the actual changes to law through 2012, this bill should change your expectations of rates beyond 2012. . . . All the arguments that were effective in 2010 will be as effective in 2012, and Congress will already have cast this extension vote once.”

And Pete Sepp, Executive Vice President of the National Taxpayers Union, while also noting some reservations, points out, “A two-year extension of all current income-tax rates will definitely help to keep small business and investor uncertainty from getting even worse. Preserving the moderate rates on capital gains and dividends is an especially urgent priority, not only to prevent a year-end market nosedive but to help economic growth climb back to its proper altitude.”

 Hennessey acknowledges that in an ideal scenario, there would be things he’d improve, but he writes, “It’s silly to compare this bill to any one person’s ideal tax policy and say it’s inadequate. This is legislating, not a theoretical tax seminar.” His conclusion? “No-brainer. Support the deal.”

Related:

Voters Put Spending Cuts Ahead of Deficit Reduction

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