Tax Reform ATR believes that all consumed income should be taxed one time, at one low and flat rate. Link
GET INVOLVED
ATR ON TWITTER
FOLLOW US-
Groups who advocated for the IRS to prepare tax returns sure look foolish these days: http://t.co/oKvpIofu7Y
May 13, 2013 06:30 PM
taxreformer -
"We don't need the federal government mandating additional taxes..." -@MarshaBlackburn on MFA: http://t.co/lAuLJtr5t3 #NoNetTax
May 13, 2013 06:00 PM
taxreformer -
Health insurers and businesses are already feeling the iron-clad grip of regulations in #Obamacare: http://t.co/J6dfnKqFYZ
May 13, 2013 05:30 PM
taxreformer -
Virginia Governor Bob McDonnell Signs Largest Tax Hike in Virginia History into Law http://t.co/Qd6KOFfaPv
May 13, 2013 03:46 PM
taxreformer -
Under #Obamacare, mothers have had a tougher time purchasing non-prescription, over-the-counter medicine: http://t.co/dJuaGAT9LE
May 13, 2013 02:01 PM
taxreformer -
9 out of 20 #Obamacare tax hikes have not even been implemented yet: http://t.co/opFkyf1guJ
May 13, 2013 01:30 PM
taxreformer -
.@GroverNorquist on MFA: "[The Senate] didn't ask all of the questions that needed to be asked": http://t.co/wXfkIR2Ca9 #NoNetTax
May 13, 2013 01:01 PM
taxreformer -
"When architects of #Obamacare are worried about it creating a trainwreck, you know something's gone terribly wrong": http://t.co/J6dfnKqFYZ
May 13, 2013 12:30 PM
taxreformer -
Conservative and Free Market Groups Applaud Move to Delay a Vote on Gina McCarthy: http://t.co/lNQYmJAB12 #EPA
May 13, 2013 12:02 PM
taxreformer -
The #Obamacare train wreck will derail the American economy: http://t.co/opFkyf1guJ
May 13, 2013 11:30 AM
taxreformer
Email
Print
Support Vitter Amendment to Strike Title 12 and Fannie Mae 2.0
Today, ATR sent the following alert to all Senate offices urging them to support Sen. Vitter's amendment to strike Title 12 from the financial reform bill. This Title creates Fannie Mae 2.0 and continues the failed policies of the past. Call your Senator and urge them to support Sen. Vitter's amendment.
Americans for Tax Reform urges all members to support Sen. Vitter’s (R-LA) amendment to S. 3217, the Restoring American Financial Stability Act of 2010.
Title 12, misnamed “Improving Access to Financial Institutions” on page 1398, creates Fannie Mae 2.0 and must be removed.
Fannie Mae collapsed because it became a slush fund for bad loans the government forced banks to make. Now, Title 12 – which was shoved in the bill during the final minutes before it passed out of Committee – will do the exact same thing:
o This Title pays banks to advertise to, and seek out, low income people who would otherwise not qualify for loans
o The bank, backed by the government, issues risky loans
o The bank is now in a win-win situation
o Either the loan is paid back on time, in which case the bank keeps all the profits, or
o The loan defaults and the government uses taxpayer money to cover the bank’s loss
This scenario contains the exact same moral hazard which led to Fannie Mae’s meltdown. Do not allow these same risky practices to continue. Vote “YES” on Sen. Vitter’s amendment to remove Title 12.
Do not allow Fannie Mae 2.0 to happen again – remove Title 12 and vote YES on Vitter Amendment
