Washington, D.C. —
Senator John Thune today introduced an across-the-board middle class tax rebate amendment (S. AMDT #538) to the American Recovery and Reinvestment Act of 2009. Senator Thune's amendment would strike the entire $936 billion Senate stimulus bill and replace it with a $936 billion across-the-board-middle-class tax rebate for 182 million Americans. The amendment would result in a tax rebate of $5,143 for single filers and $10,286 for married couples who file jointly. Eligibility is capped for all tax filers at 2007 adjusted gross income of $250,000.
"There seems to be a great deal of discussion over how to spend American taxpayers' money and future earnings. Instead of investing billions in wasteful government programs that won't provide immediate help to our troubled economy, my amendment invests in the American people," said Thune. "I think most Americans believe they know how to best spend their own money and would rather have control over it than have the government create new federal programs, or waste it on pet pork projects that will not stimulate the economy. My amendment is an equitable way to ensure that virtually all working Americans benefit from this economic stimulus plan. This is substantial tax relief for middle class families."
In 2007, roughly 53 million joint and 76 million single tax returns were filed with an adjusted gross income of less than $250,000.
"If people are serious about the need for this stimulus bill to be timely, the fastest way to inject money into our economy is through tax returns. We could have $936 billion into the economy by the end of the year. Taxpayers want help and they don't want us wasting their hard-earned tax dollars on programs that won't benefit anyone in the near future. This amendment addresses all of the nation's leading economists who have said that any stimulus bill needs to be timely, targeted, and temporary."
Senator Thune explained his amendment on the floor of the U.S. Senate today. The Senate is expected to vote on Senator Thune's amendment later this afternoon.
"There seems to be a great deal of discussion over how to spend American taxpayers' money and future earnings. Instead of investing billions in wasteful government programs that won't provide immediate help to our troubled economy, my amendment invests in the American people," said Thune. "I think most Americans believe they know how to best spend their own money and would rather have control over it than have the government create new federal programs, or waste it on pet pork projects that will not stimulate the economy. My amendment is an equitable way to ensure that virtually all working Americans benefit from this economic stimulus plan. This is substantial tax relief for middle class families."
In 2007, roughly 53 million joint and 76 million single tax returns were filed with an adjusted gross income of less than $250,000.
"If people are serious about the need for this stimulus bill to be timely, the fastest way to inject money into our economy is through tax returns. We could have $936 billion into the economy by the end of the year. Taxpayers want help and they don't want us wasting their hard-earned tax dollars on programs that won't benefit anyone in the near future. This amendment addresses all of the nation's leading economists who have said that any stimulus bill needs to be timely, targeted, and temporary."
Senator Thune explained his amendment on the floor of the U.S. Senate today. The Senate is expected to vote on Senator Thune's amendment later this afternoon.
