Tax Reform ATR believes that all consumed income should be taxed one time, at one low and flat rate. Link
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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
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"We don't need the federal government mandating additional taxes..." -@MarshaBlackburn on MFA: http://t.co/lAuLJtr5t3 #NoNetTax
May 13, 2013 06:00 PM
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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
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Virginia Governor Bob McDonnell Signs Largest Tax Hike in Virginia History into Law http://t.co/Qd6KOFfaPv
May 13, 2013 03:46 PM
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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
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9 out of 20 #Obamacare tax hikes have not even been implemented yet: http://t.co/opFkyf1guJ
May 13, 2013 01:30 PM
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.@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
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"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
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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
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The #Obamacare train wreck will derail the American economy: http://t.co/opFkyf1guJ
May 13, 2013 11:30 AM
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Taxpayers Need Protections in Fannie & Freddie Bailout
ATR submitted testimony today supporting House Financial Services Committee efforts to protect taxpayers in the wake of the Fannie and Freddie bailout.
Americans for Tax Reform submitted testimony today as a House Financial Services Subcommittee takes a look at multiple measures that would protect taxpayers following the fall of government-backed secondary mortgage market giants Fannie Mae and Freddie Mac. The Subcommittee on Capital Markets and GSEs is reviewing bills that would, for example, cap the amount they can receive from taxpayers, scale back the GSE's spending, and take steps to ensure they pay taxpayers back. Below is an excerpt and the full testimony can be found here.
When the Housing and Economic Recovery Act of 2008 (HERA) authorized the Treasury Department to purchase the obligations of Fannie and Freddie, it stated that such actions must be necessary to “protect the taxpayer." Yet, since the Treasury Department put Fannie and Freddie in conservatorship, the two institutions have already cost American taxpayers $162.4 billion, a number that is expected to rise even further. There are relatively no protections for American taxpayers caught footing the bill. If one thing has become clear, it’s that the implied guarantee that the federal government would bail out Fannie and Freddie should they become insolvent is now an explicit guarantee.
...Congress should take steps to ensure taxpayers are repaid for any and all funds received by Fannie and Freddie. Similar to bailouts of other industries, Treasury has become the primary stockholder of Fannie and Freddie, and pays back the Treasury through dividends or (should they emerge from conservatorship) the sale of stock. To date, Fannie and Freddie have paid dividends of $24.1 billion, a mere 15 percent of what they have drawn from the U.S. Treasury.
Click here for ATR's full testimony.
