RELEASE: Polis Opposes Small Business Tax Cuts, Supports Death Taxes

Greenwood Village, CO – Congressman Jared Polis’ preference for higher taxes, which we saw last Tuesday with the documentation of his unshakable hostility to tax reform, is also evident in his voting record against small business tax cuts and in favor of the estate tax, more aptly known as the death tax. Find research on that voting record below.

Small business taxes and death taxes have several points of similarity, but the similarity that determines Polis’ position on them is that they’re both taxes. As such, Polis believes they should be as high as possible.

Colorado Republican Chairman Jeff Hays issued the following statement on Polis’ pro-tax posture: “Polis is the quintessential leftist. In his view, government never has enough, but the people always have enough to fork over a little more.”

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SMALL BUSINESS TAX

Polis Voted Against The Small Business Tax Deduction

On April 19, 2012, Polis Voted Against The Small Business Tax Deduction, Which Would Give Small Businesses A 20 Percent Tax Deduction. “Passage of the bill that would allow businesses with fewer than 500 employees a 20 percent deduction on their taxable income in 2012. A business would be eligible for the deduction if it had fewer than 500 full-time equivalent employees in calendar year 2010 or 2011. If the business was not in existence in those years, then the threshold would be applied in 2012. The bill would limit the deduction to 50 percent of certain W-2 wages paid by the business.” (H.R. 9, Roll Call Vote #177: Passed 235-173, 4/19/12, Polis Voted Nay; CQ Summary, Accessed 12/5/17)

DEATH TAX

Polis Voted In Favor Of The Death Tax At Least Six Times

In April 2009, Polis Voted For Obama’s FY2010 Budget, Which Would Have Instituted A 45 Percent Death Tax, With An Exemption Level Of $3.5 Million. “Adoption of the conference report on the concurrent resolution that would allow up to $1.086 trillion in non-emergency discretionary spending for fiscal 2010, plus $130 billion in fiscal 2010 for operations in Iraq and Afghanistan. It would assume $764 billion in taxcuts over five years, including an extension of the 2001 and 2003 tax cuts for households earning less than $250,000 annually, a three-year adjustment to prevent additional taxpayers from paying the alternative minimumtax and a permanent extension of the 2009 estate tax levels. It includes reconciliation instructions to House and Senate committees to report a total of $2 billion in savings, presumably from health care and student loan program, by Oct. 15. It would create a deficit-neutral reserve fund for health care and climate change legislation. Adopted (thus sent to the Senate) 233-193.” (S. Con. Res. 13, Roll Call Vote #216: Conference Report Agreed To 233-193, 4/29/09, Polis Voted Yea; CQ Summary, Accessed 12/5/17)

  • The Wall Street Journal: “The President’s Budget Calls For The Largest Increase In The Death Tax In U.S. History In 2010.” (Editorial, “Night Of The Living Death Tax,” The Wall Street Journal, 3/31/09)
  • The Budget Would Have Instituted A 45 Percent Death Tax, With An Exemption Level Of $3.5 Million. “The announcement of this tax increase is buried in footnote 1 on page 127 of the President’s budget. That note reads: ‘The estate tax is maintained at its 2009 parameters.’ This means the death tax won’t fall to zero next year as scheduled under current law, but estates will be taxed instead at up to 45%, with an exemption level of $3.5 million (or $7 million for a couple). Better not plan on dying next year after all.” (Editorial, “Night Of The Living Death Tax,” The Wall Street Journal, 3/31/09)

In December 2009, Polis Voted To Kill A Motion To Recommit That Would Have Added An Amendment That Would Repeal The Estate Tax. “Pomeroy, D-N.D., motion to table (kill) the Heller, R-Nev., appeal of the ruling of the chair with respect to the Pomeroy point of order that the Heller motion to recommit the bill violates the House pay-as-you-go budget rule because it would increase the deficit. The motion would recommit the bill to the Ways and Means Committee with instructions that it be immediately reported back with an amendment that would repeal the estate tax.” (H.R. 4154, Roll Call Vote #927: Motion Agreed To 234-186, Polis Voted Yea, 12/3/09; CQ Summary, Accessed 12/5/17)

In December 2009, Polis Voted Against A Motion To Recommit That Would Have Added An Amendment That Would Repeal The Estate Tax Through Dec. 31, 2011. “Heller, R-Nev., motion to recommit the bill to the House Ways and Means Committee with instructions that it be immediately reported back with an amendment that would repeal the estate tax through Dec. 31, 2011.” (H.R. 4154, Roll Call Vote #928: Motion Rejected 187-233, 12/3/09, Polis Voted Nay; CQ Summary, Accessed 12/5/17)

In December 2010, Polis Voted For An Amendment That Would Have Raised The Proposed Death Tax From 35 Percent To 45 Percent, With A $3.5 Million Exemption. “Levin, D-Mich., amendment that would strike the estate tax provisions in the bill, which would revive the lapsed estate tax at a 35 percent rate on estates worth more than $5 million for individuals and $10 million total for couples, and insert provisions that would set the estate tax rate for 2011 and 2012 at 45 percent on estates worth more than $3.5 million for individuals and $7 million total for couples. Rejected in Committee of the Whole 194-233.” (H.R. 4853; Roll Call Vote #646: Amendment Rejected 194-233, 12/16/10, Polis Voted Yea; CQ Summary, Accessed 12/5/17)

In January 2013, Polis Voted For The Fiscal Cliff Package That Taxed Estates Valued Over $5 Million And Joint Estates Valued Over $10 Million At 40 Percent. “Camp, R-Mich., motion to concur in the Senate amendments to the bill that would permanently extend the 2001 and 2003 tax rates for individual income below $400,000 and joint-filer income below $450,000. Rates for income above those thresholds would rise to 39.6 percent from 35 percent. It also would permanently extend the tax rates on dividends and capital gains for individual income below $400,000 and joint-filer income below $450,000. Rates for the dividends and capital gains taxes would rise to 20 percent for income above those thresholds. The measure would delay the automatic, across-the-board cuts known as the ‘sequester’ for two months. Half of the sequester delay would be offset by discretionary cuts, split between defense and non-defense, and the other half offset by revenue raised through the voluntary transfer of traditional IRAs to Roth IRAs, which would tax retirement savings when transferred. It also would tax individual estates valued over $5 million and joint estates valued over $10 million at 40 percent. It would extend the Milk Income Loss Contract (MILC) program at current rates, and it would permanently ‘patch’ the alternative minimum tax to account for inflation. Unemployment insurance would be extended through 2013. The bill would block scheduled cuts to Medicare physician payment rates and extend for five years tax credits included in the 2009 stimulus law including the child tax credit and the earned income tax credit. It would allow the 2 percent payroll tax holiday to expire. Motion agreed to thus clearing the bill for the president, 257-167. Note: A ‘yea’ was a vote in support of the president’s position.” (H.R. 8, Roll Call Vote #659: Motion Agreed To 257-167, 1/1/13, Polis Voted Yea; CQ Summary, Accessed 12/5/17)

On April 16, 2015, Polis Voted Against H.R. 1105, The Death Tax Repeal Act, Which Would Have Repealed The Estate Tax. “Passage of the bill that would repeal the federal estate tax. The measure also would repeal the generation-skipping transfer tax and reduce the top marginal rate for the federal gift tax from 40 percent to 35 percent.” (H.R. 1105, Roll Call #161: Passed 240-179, 4/16/15, Polis Voted Nay; CQ Summary, Accessed 12/5/17)