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Thursday, August 02, 2012

Heather Wilson “Proud” Of Votes To Protect Special Tax Breaks for Companies Shipping Jobs Overseas

From Martin Heinrich for Senate Campaign.

In a recent news article in The New Mexican, a spokesperson for Heather Wilson said the former Congresswoman was “proud” of votes she took to protect special tax breaks for companies that ship jobs overseas.

“Heather Wilson's blatant support for giving special tax breaks to companies that ship American jobs overseas shows just how wrong her priorities are for New Mexico,” said Whitney Potter, spokeswoman for Democratic Senate candidate Martin Heinrich. “We need leaders who are going to fight for the future of the middle class and put New Mexicans back to work, not politicians that put tax breaks for the rich ahead of strengthening Medicare and Social Security.”

Echoing the chorus of the Republican Party, Wilson also signed lobbyist Grover Norquist’s tax pledge promising to never require big corporations to pay their fair share, even by closing loopholes that reward them for shipping American jobs overseas.

Background:

Wilson “Proud” of Votes to Protect Special Tax Breaks. In a recent news article in The New Mexican, a spokesperson for Heather Wilson said the former Congresswoman was “proud” of votes she took to protect special tax breaks for companies that ship jobs overseas. [Santa Fe New Mexican, 8/1/12]

Wilson Has Voted At Least Four Times To Protect Special Tax Breaks For Companies That Ship American Jobs Overseas. During her time in the House, Heather Wilson voted at least four times to protect special tax breaks for companies that ship jobs overseas. [Vote 344, 5/21/08; Associated Press,5/21/08; Vote 161, 5/12/04; wolf.house.gov, accessed 7/12/12; Vote 291,6/19/03; wolf.house.gov, accessed 7/12/12; Vote 247, 6/21/02; New York Times, 5/13/02]

Politifact: ‘True’ That The Tax Code Allows Companies To Get A Tax Break When They Send Jobs To “China Or India Or Wherever.” In September 2010 Politifact ruled that the following statement from Sen. Sheldon Whitehouse was ‘True’: “The law, right now, permits companies that close down American factories and offices and move those jobs overseas to take a tax deduction for the costs associated with moving the jobs to China or India or wherever.” Whitehouse made this statement on the Senate floor while arguing for a proposal to close this loophole. Politifact concluded: “There is little debate that the current system allows companies to get a tax break for their expenses when they send jobs outside the U.S. We rate Whitehouse's statement True.” [Politifact, 11/21/10]

Wilson Voted Twice Against Banning Certain Federal Departments From Awarding Contracts To Companies That Incorporate Overseas. In 2006, Wilson voted against an amendment to the FY 07 Treasury, Transportation and Housing Appropriations bill that would have placed a ban on new contracts with corporate expatriates - companies that have incorporated on paper overseas in the tax haven countries of Bermuda, Barbados, the Cayman Islands, Antigua, Panama. In 2005, Wilson voted against an amendment to ban the departments and agencies funded under the Transportation, Treasury & Housing Appropriations bill from contracting with corporate expatriate companies. [Vote 275, 6/14/06; Rep. Berry Press Release, 6/14/06; Vote 351, 6/30/05; Rep. DeLauro Press Release, 6/30/05]

Wilson Opposed Barring Corporations Laying Off More U.S. Workers Than They Do Overseas From Receiving Ex-Im Aid. In 2002, Wilson voted against an amendment the Associated Press reported “would have barred companies from receiving bank aid if they lay off more workers in the United States than in foreign countries.” The amendment was defeated, 135-283. [Vote 120, 5/01/02; AP, 5/01/02]

Wilson Signed Americans for Tax Reform Pledge Not to Eliminate Tax Deductions. In 2011, Wilson was listed as a signer of the Americans for Tax Reform’s Taxpayer Protection Pledge, stating that she opposed any net reduction or elimination of deductions and credits, unless matched dollar for dollar by further reducing tax rates. [Americans for Tax Reform Press Release,4/18/11]

ATR Called American Jobs and Closing Tax Loopholes Act of 2010 a Taxpayer Protection Pledge Violation. In May 2010, Americans for Tax Reform issued a Tax Pledge Alert to announce that HR 4213, the American Jobs and Closing Tax Loopholes Act of 2010, was a Taxpayer Protection Pledge violation. The bill would eliminate $14.451 billion of foreign tax credit loopholes. [Americans for Tax Reform, Press Release,5/20/10; House Committee on Ways and Means, “American Jobs and Closing Tax Loopholes Act of 2010, HR 4213, 5/28/10]

August 2, 2012 at 11:51 PM in 2012 NM Senate Race, Candidates & Races, Heather Wilson, Jobs, Rep. Martin Heinrich (NM-01), Taxes | Permalink

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