Lindsey Graham presidential campaign, 2016/Taxes
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 Lindsey Graham |
U.S. Senator (Assumed office: 2003) U.S. House of Representatives (1995-2003) |
 Republican candidate: |
2028 • 2024 • 2020 • 2016 |
This page was current as of the 2016 election.
- In an op-ed for CNBC on October 15, 2015, Lindsey Graham explained how he would prevent “the coming debt crisis.” Graham’s plan included raising the retirement age for Social Security, eliminating the payroll tax and “expanding rehabilitation and work opportunities for those on disability.” He would also cap individual and corporate tax deductions and require that “[a]ny new revenues would have to be paired with spending cuts in a 3:1 ratio of cuts to revenues.”[2]
- Graham voted for H.R. 8 - the American Taxpayer Relief Act of 2012, which made permanent most of the Bush tax cuts originally passed in 2001 and 2003, while also raising tax rates on the highest income levels.[3]
- On September 19, 2011, Graham released the following statement: "The President’s $1.5 trillion dollar tax increase on investors, job creators, and American business is poorly-timed, ill-conceived, and dead on arrival. Our economy desperately needs to grow so more Americans can get back to work. Tax increases on job creators, like President Obama is proposing, will be a death blow to any recovery. Our tax code needs to be reformed. I support tax code simplification which combines lower rates with the elimination of deductions and loopholes. However, increasing tax burdens on job creators is the last thing we ought to do in a weak economy. The President’s 1.5 trillion tax increase will certainly make it more difficult to grow the economy and create jobs."[4]
- Graham signed Americans for Tax Reform's Taxpayer Protection Pledge.[5]
- In 2008, Graham voted against S.Amdt.4218 to S.Con.Res.70, which would have raised the tax rate for those earning more than $1 million.[6]
- In 2008, Graham voted for S.Amdt.4191 to S.Con.Res.70, which would have raised the Death Tax exemption to $5 million.[7]
- Graham voted for H.R.4297 - the Tax Increase Prevention and Reconciliation Act of 2005, which, among other things, extended "reductions in capital gains and dividends tax rates enacted by the Jobs and Growth Tax Relief Reconciliation Act of 2003." It became law on May 17, 2006.[8]
- Graham co-sponsored H.R.3594 - the Installment Tax Correction Act of 2000, which "Amends the Internal Revenue Code (as amended by the Ticket to Work and Work Incentives Improvement Act of 1999) to repeal revisions to the Code (made by the Act) which repealed the use of the installment method of accounting for accrual method taxpayers and modified the pledge rules of installment obligations." The purpose of the bill is to ensure that businesses are not unfairly taxed until the full amount of the sale of a business is completed. It became law on December 28, 2000.[9]
Recent news
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See also
Footnotes
- ↑ NPR, "Lindsey Graham Ends Presidential Bid," December 21, 2015
- ↑ CNBC, "What I'll do to fix the debt crisis," October 15, 2015
- ↑ GovTrack, “H.R. 8 (112th): American Taxpayer Relief Act of 2012,” accessed January 25, 2015
- ↑ Senate.gov, “On President's Plan to Raise Taxes,” accessed January 26, 2015
- ↑ Americans for Tax Reform, “The Taxpayer Protection Pledge Database," accessed January 25, 2015
- ↑ Congress.gov, “ S.Amdt.4218 to S.Con.Res.70,” accessed January 26, 2015
- ↑ Congress.gov, “S.Amdt.4191 to S.Con.Res.70,” accessed January 26, 2015
- ↑ Congress.gov, “H.R.4297 - Tax Increase Prevention and Reconciliation Act of 2005,” accessed January 26, 2015
- ↑ Congress.gov, “H.R.3594 - the Installment Tax Correction Act of 2000,” accessed January 22, 2015
