Americans for Tax Reform supports the following amendments to Democrats’ reckless tax and spending spree and urges a YES vote:
Amendment #5472 from Sen. John Thune (R-S.D.): Would remove harmful small business taxes that Democrats slipped into the 15 percent book tax by re-defining any company with private equity in its capital structure to be considered a subsidiary of that private equity firm for purposes of the tax. The amendment would also extend the limitation on the deduction of state and local taxes.
Amendment #5301 from Sen. Lindsey Graham (R-S.C.): Would strike Democrats’ $12 billion tax hike on crude oil that will raise gas prices for consumers.
Amendment #5409 from Sen. Barrasso (R-WY): Reduce gas prices with onshore domestic energy production – which was vibrant until Jan 20, 2021
Amendment #5382 from Sen. Shelley Moore Capito (R-W.Va): Would strike $45 million in appropriations used to circumvent the just decided West Virginia v. EPA Supreme Court decision to regulate GHG emissions.
Amendment #5404 from Sen. Mike Crapo (R-ID): Would prevent IRS bank account dragnet audits that target and harass individuals and small business owners earning less than $400,000
Amendment #5350 from Sen. Pat Toomey (R-PA): Permanent full expensing for qualified property.
Motion to Commit #227 from Sen. Pat Toomey (R-PA): To prevent SEC rule on climate-related disclosures
Amendment #5240 from Sen. Mike Braun (R-IN): Would Limit the use of taxpayer-funded union time for employees of the IRS.
Amendment #5381 from Sen. Mike Braun (R-IN): Would codify regulations promulgated by the Trump Administration exempting certain tax-exempt organizations from specified reporting requirements, which protects them from political targeting by the IRS.
Motion to Commit #125 from Sen. Todd Young (R-IN) – Would provide that the combined effect of the provisions of the bill will not result in an increase in the Federal tax burden for any family with an annual adjusted gross income of less than $400,000.
Motion to Commit #53 from Sen. James Lankford (R-OK): Instructs the Finance Committee to incentivize rather than discourage new prescription drug development.
Motion to Commit #56 from Sen. James Lankford (R-OK): To increase domestic oil and gas production.
Motion to Commit #38 from Sen. John Thune (R-SD): Directs the Finance Committee to reallocate $80 billion in IRS funds to provide tax relief.
Amendment #5263 from Sen. Ted Cruz (R-TX): Would strike $80 billion in IRS funds.
Amendment #5264 from Sen. Ted Cruz (R-TX): Would strike 15% book minimum tax.
Motion to Commit #177 from Sen. Tim Scott (R-S.C.): Would instruct the Finance Committee to report back with language establishing a short-term Child Opportunity Tax Credit funded by the elimination of new IRS enforcement dollars. This new tax credit would be designed to provide tax relief for parents who have incurred expenses helping their child recover lost learning from school closures.
Amendment #5207 from Sen. Rand Paul (R-KY): Would increase the contribution limits for Health Savings Accounts (HSAs).