Friday, June 13, 2014

The Democrats and Republicans who Rail Against the Deficit Always Seem to Love Corporate Tax Breaks

Today, the House voted to extend a number of expired tax breaks. Republicans and most Democrats love to rail against "The deficit." However, "The Deficit" is only a problem when it comes to social spending. Corporate tax breaks that increase the deficit are just fine.

The Democratic leadership has opposed such piecemeal bills from the House GOP. The GOP basically plans to extend all of the tax breaks it likes and then allow the ones it dislikes, such as those that benefit middle- and low-income people, to expire. Normally, they are all passed together. The White House has also threatened to veto the piecemeal bills.

The House first voted to remove a sunset provision in Section 179 of the tax code in order to allow small businesses to continue to write off up to $500,000 worth of investments a year. It would cost roughly $73 billion over the next decade.

It passed 272 to 144. 219 Republicans and 53 Democrats voted for it. 142 Democrats and 2 Republicans voted against it.

The two Republicans were John Campbell (CA-45) and Walter Jones (NC-03).

Here are the 53 Democrats:

Ron Barber (AZ-02)
John Barrow (GA-12)
Ami Bera (CA-07)
Sanford Bishop (GA-02)
Timothy Bishop (NY-01)
Bruce Braley (IA-01)
Julia Brownley (CA-26)
Cheri Bustos (IL-17)
Henry Cuellar (TX-28)
John Delaney (MD-06)
Suzan DelBene (WA-01)
Bill Enyart (IL-12)
Elizabeth Esty (CT-05)
Bill Foster (IL-11)
Tulsi Gabbard (HI-02)
Pete Gallego (TX-23)
John Garamendi (CA-03)
Joe Garcia (FL-26)
Colleen Hanabusa (HI-01)
Steven Horsford (NV-04)
Derek Kilmer (WA-06)
Ann Kirkpatrick (AZ-01)
Annie Kuster (NH-02)
Jim Langevin (RI-02)
David Loebsack (IA-02)
Dan Maffei (NY-24)
Sean Maloney (NY-18)
Jim Matheson (UT-02)
Mike McIntyre (NC-07)
Jerry McNerney (CA-09)
Gregory Meeks (NY-05)
Grace Meng (NY-06)
Mike Michaud (ME-02)
Patrick Murphy (FL-18)
Gloria Negrette McLeod (CA-35)
Rick Nolan (MN-08)
Ed Perlmutter (CO-07)
Scott Peters (CA-52)
Gary Peters (MI-14)
Collin Peterson (MN-07)
Chellie Pingree (ME-01)
Nick Rahall (WV-03)
Raul Ruiz (CA-36)
Dutch Ruppersberger (MD-02)
Brad Schneider (IL-10)
Kurt Schrader (OR-05)
Carol Shea-Porter (NH-01)
Kyrsten Sinema (AZ-09)
Albio Sires (NJ-08)
Dina Titus (NV-01)
Marc Veasey (TX-33)
Filemon Vela (TX-34)
Tim Walz (MN-01)

The House then passed a second bill, a package of tax incentives designed to help S corporations, which do not pay federal income taxes and instead pass income along to their shareholders. The shareholders then report it on their personal tax returns. The package included an incentive related to charitable contributions made by S corporations (which would cost $2 billion over the next decade) and a tax cut for small businesses formerly organized as corporations.

It passed 263 to 155. 221 Republicans and 42 Democrats voted for it. 153 Democrats and 2 Republicans voted against it.

The two Republican opponents were the same as before.

14 Democrats who supported the previous bill opposed this one:

Timothy Bishop (NY-01)
Tulsi Gabbard (HI-02)
Colleen Hanabusa (HI-01)
Jim Langevin (RI-02)
Jerry McNerney (CA-09)
Gregory Meeks (NY-05)
Grace Meng (NY-06)
Mike Michaud (ME-02)
Ed Perlmutter (CO-07)
Chellie Pingree (ME-01)
Kurt Schrader (OR-05)
Albio Sires (NJ-08)
Dina Titus (NV-01)
Filemon Vela (TX-34)

Two Democrats who opposed the previous bill supported this one: Joyce Beatty (OH-03) and Tony Cardenas (CA-29).

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