Wednesday, January 2, 2013

Congressman Posey Votes Against Fiscal Cliff Deal

U.S. Rep. Bill Posey
WASHINGTON, D.C. -- The U.S. House of Representatives passed its version of the  Senate 'Fiscal Cliff' compromise bill, known as HR 8, the Tax Relief Extension Act, by a vote of 257-167 late last night.  President Obama is expected to later sign the bill when it reaches his desk.  


In a statement released by The White House, the compromise was hailed as a "A Victory for Middle-Class Families and the Economy... For the first time in 20 years, Congress will have acted on a bipartisan basis to vote for significant new revenue. This means millionaires and billionaires will pay their fair share to reduce the deficit through a combination of permanent tax rate increases and reduced tax benefits. And this agreement ensures that we can continue to make investments in education, clean energy, and manufacturing that create jobs and strengthen the middle class."


U.S. Representative Bill Posey (R-FL), whose district includes Brevard County along Florida's Space Coast, voted against the bill saying, "Unfortunately the Senate also included last minute provision to increase deficit spending by an additional $330 billion over 10 years according to a budget impact analysis completed by the Congressional Budget Office (CBO).  By attaching this additional deficit spending to must pass legislation at the last minute, the Senate and Administration plan to simply pass on the costs of this new spending to our children and grandchildren."  Florida U.S. Senator Marco Rubio also voted against the Senate version of the fiscal cliff compromise, saying the compromise "postpones the inevitable."


One economic impact analysis estimates that 1,366 NASA Kennedy Space Center related contractor jobs would be lost on Florida's Space Coast in Brevard County under the impending 'fiscal cliff.'  Ron Cobb of the Space Coast Economic Development Council said in a Brevard Times OpEd that sequestration "...would drain more than $330 million from Brevard County’s economy in 2013..."


“For those who think we can solve our fiscal issues by simply raising taxes, consider that the higher taxes that are allowed to take effect will increase tax revenue by $62 billion year – our annual deficit is over $1 trillion," Posey added.  "Clearly, addressing our nation’s dire budget challenges will require additional spending restraint and strong economic growth.  Also, anyone doubting that there is room for spending cuts should simply visit http://posey.house.gov/wasteful-spending/.”  


SPENDING IN THE BILL:
  • Permanent extension of the middle class tax cuts: This will provide certainty for 114 million households including lower tax rates, an expanded Child Tax Credit, and marriage penalty relief—steps that together will prevent the typical family of four from seeing a $2,200 tax increase next year. In addition, it includes a permanent Alternative Minimum Tax (AMT) fix. 
  • Extension of Emergency Unemployment Insurance benefits for 2 million people: The agreement will prevent 2 million people from losing UI benefits in January by extending emergency unemployment insurance benefits for one year. 
  • Extension Agricultural subsidy programs for 1 year:  Avoids $7 a gallon milk.
  • Extension of tax cuts for 25 million working families and students: The deal extends President Obama’s expansions of the Child Tax Credit, Earned Income Tax Credit, and the President’s new American Opportunity Tax Credit, which helps families pay for college. The agreement would extend them for five years. 
  • Extension of renewable energy incentives, the R&E tax credit and other business incentives: The agreement extends tax relief for businesses through the end of next year.
  • Fixes the SGR (“doc fix”) with no cuts to the Affordable Care Act or to beneficiaries: The agreement avoids a 27 percent cut to reimbursements for doctors seeing Medicare patients for 2013 by fixing the sustainable growth rate formula through the end of next year (the “doc fix”).
  • Postpones the sequester for two months, paid for with $1 of revenue for every $1 of spending, with the spending balanced between defense and domestic: The agreement saves $24 billion, half in revenue and half from spending cuts which are divided equally between defense and nondefense, in order to delay the sequester for two months. This will give Congress time to work on a balanced plan to end the sequester permanently through a combination of additional revenue and spending cuts in a balanced manner.

TAXING IN THE BILL:
  • 2% Increase in Payroll Taxes for Everyone.  The payroll tax is increased from 4.2% to 6.2% which will be taken out of workers' paychecks immediately.  The tax is on the first $113,700 a year income.  Example: A worker making $50,000 a year will have $1,000 less take home pay per year, $25,000 - $500 less.
  • Restores the 39.6 percent rate for high-income households, as in the 1990s: The top rate would return to 39.6 percent for singles with incomes above $400,000 and married couples with incomes above $450,000. 
  • Capital gains rates for high-income households return to Clinton-era levels: The capital gains rate would return to what it was under President Clinton, 20 percent. Counting the 3.8 percent surcharge from the Affordable Care Act, dividends and capital gains would be taxed at a rate of 23.8 percent for high-income households. These tax rates would apply to singles above $400,000 and couples above $450,000. 
  • Reduced tax benefits for households making over $250,000 (for singles) and $300,000 (for couples): The agreement reinstates the Clinton-era limits on high-income tax benefits, the phaseout of itemized deductions (“Pease”) and the Personal Exemption Phaseout (“PEP”), for couples with incomes over $300,000 and singles with incomes over $250,000. These two provisions reduce tax benefits for high-income households.
  • Raises tax rates on the wealthiest estates: The agreement raises the tax rate on the wealthiest estates – worth upwards of $5 million per person – from 35 percent to 40 percent, in contrast to Republican proposals to continue the current estate tax levels. 
  • The agreement’s $620 billion in revenue is 85 percent of the amount raised by the Senate-passed bill, if that bill had been enacted and made permanent: The agreement locks in $620 billion in high-income revenue over the next ten years.
  

HOUSE VOTING RECORD ON FISCAL CLIFF COMPROMISE, H.R. 8. January 1, 2013:


Ayes
Ackerman
Alexander
Altmire
Andrews
Baca
Baldwin
Barber
Barletta
Bass (CA)
Bass (NH)
Benishek
Berkley
Berman
Biggert
Bilbray
Bishop (GA)
Bishop (NY)
Boehner
Bonamici
Bono Mack
Boren
Boswell
Brady (PA)
Brady (TX)
Braley (IA)
Brown (FL)
Buchanan
Butterfield
Calvert
Camp
Capps
Capuano
Carnahan
Carney
Carson (IN)
Castor (FL)
Chandler
Chu
Cicilline
Clarke (MI)
Clarke (NY)
Clay
Cleaver
Clyburn
Coble
Cohen
Cole
Connolly (VA)
Conyers
Costa
Costello
Courtney
Crenshaw
Critz
Crowley
Cuellar
Cummings
Curson (MI)
Davis (CA)
Davis (IL)
DeGette
DelBene
Denham
Dent
Deutch
Diaz-Balart
Dicks
Dingell
Doggett
Dold
Donnelly (IN)
Doyle
Dreier
Edwards
Ellison
Emerson
Engel
Eshoo
Farr
Fattah
Fitzpatrick
Fortenberry
Frank (MA)
Frelinghuysen
Fudge
Gallegly
Garamendi
Gerlach
Gibson
Gonzalez
Green, Al
Green, Gene
Grijalva
Grimm
Gutierrez
Hahn
Hanabusa
Hanna
Hastings (FL)
Hastings (WA)
Hayworth
Heck
Heinrich
Herger
Herrera Beutler
Higgins
Himes
Hinchey
Hinojosa
Hirono
Hochul
Holden
Holt
Honda
Hoyer
Israel
Jackson Lee (TX)
Johnson (GA)
Johnson (IL)
Johnson (OH)
Johnson, E. B.
Kaptur
Keating
Kelly
Kildee
Kind
King (NY)
Kinzinger (IL)
Kissell
Kline
Kucinich
Lance
Langevin
Larsen (WA)
Larson (CT)
LaTourette
Latta
Lee (CA)
Levin
Lipinski
LoBiondo
Loebsack
Lofgren, Zoe
Lowey
Lucas
Luetkemeyer
Luján
Lungren, Daniel E.
Lynch
Maloney
Manzullo
Marino
Markey
Matsui
McCarthy (NY)
McCollum
McGovern
McKeon
McMorris Rodgers
McNerney
Meehan
Meeks
Michaud
Miller (MI)
Miller, Gary
Miller, George
Moore
Murphy (CT)
Murphy (PA)
Nadler
Napolitano
Neal
Noem
Olver
Owens
Pallone
Pascrell
Pastor (AZ)
Payne
Pelosi
Perlmutter
Peters
Pingree (ME)
Pitts
Platts
Polis
Price (NC)
Quigley
Rahall
Rangel
Reed
Reichert
Reyes
Ribble
Richardson
Richmond
Rogers (KY)
Rogers (MI)
Ros-Lehtinen
Ross (AR)
Rothman (NJ)
Roybal-Allard
Royce
Runyan
Ruppersberger
Rush
Ryan (OH)
Ryan (WI)
Sánchez, Linda T.
Sanchez, Loretta
Sarbanes
Schakowsky
Schiff
Schock
Schwartz
Scott, David
Serrano
Sessions
Sewell
Sherman
Shimkus
Shuler
Shuster
Simpson
Sires
Slaughter
Smith (NJ)
Smith (TX)
Speier
Stivers
Sullivan
Sutton
Thompson (CA)
Thompson (MS)
Thompson (PA)
Thornberry
Tiberi
Tierney
Tonko
Towns
Tsongas
Turner (NY)
Upton
Van Hollen
Velázquez
Walden
Walz (MN)
Wasserman Schultz
Waters
Watt
Waxman
Welch
Wilson (FL)
Womack
Yarmuth
Young (AK)
Young (FL)


Nays:
Adams
Aderholt
Akin
Amash
Amodei
Austria
Bachmann
Bachus
Barrow
Bartlett
Barton (TX)
Becerra
Berg
Bilirakis
Bishop (UT)
Black
Blackburn
Blumenauer
Bonner
Boustany
Brooks
Broun (GA)
Bucshon
Burgess
Campbell
Canseco
Cantor
Capito
Carter
Cassidy
Chabot
Chaffetz
Coffman (CO)
Conaway
Cooper
Cravaack
Crawford
Culberson
DeFazio
DeLauro
DesJarlais
Duffy
Duncan (SC)
Duncan (TN)
Ellmers
Farenthold
Fincher
Flake
Fleischmann
Fleming
Flores
Forbes
Foxx
Franks (AZ)
Gardner
Garrett
Gibbs
Gingrey (GA)
Gohmert
Goodlatte
Gosar
Gowdy
Granger
Graves (GA)
Griffin (AR)
Griffith (VA)
Guinta
Guthrie
Hall
Harper
Harris
Hartzler
Hensarling
Huelskamp
Huizenga (MI)
Hultgren
Hunter
Hurt
Issa
Jenkins
Johnson, Sam
Jones
Jordan
King (IA)
Kingston
Labrador
Lamborn
Landry
Lankford
Latham
Long
Lummis
Mack
Marchant
Massie
Matheson
McCarthy (CA)
McCaul
McClintock
McDermott
McHenry
McIntyre
McKinley
Mica
Miller (FL)
Miller (NC)
Moran
Mulvaney
Myrick
Neugebauer
Nugent
Nunes
Nunnelee
Olson
Palazzo
Paulsen
Pearce
Pence
Peterson
Petri
Poe (TX)
Pompeo
Posey
Price (GA)
Quayle
Rehberg
Renacci
Rigell
Rivera
Roby
Roe (TN)
Rogers (AL)
Rohrabacher
Rokita
Rooney
Roskam
Ross (FL)
Scalise
Schilling
Schmidt
Schrader
Schweikert
Scott (SC)
Scott (VA)
Scott, Austin
Sensenbrenner
Smith (NE)
Smith (WA)
Southerland
Stearns
Stutzman
Terry
Tipton
Turner (OH)
Visclosky
Walberg
Walsh (IL)
Webster
West
Westmoreland
Whitfield
Wilson (SC)
Wittman
Wolf
Woodall
Yoder
Young (IN)


Not Voting:
Buerkle
Burton (IN)
Graves (MO)
Lewis (CA)
Lewis (GA)
Paul
Stark
Woolsey

7 comments:

  1. I am a Korean Vet, and an Independent voter. More spending of 330 billion??? I agree with with this bill except the tacked on spending, which is insane. Both partys are at fault for the mess we are in, including the previous presidents. But today we are already fallen off the cliff. Adding to our debt another $330 billion pours more coals on the fire. People that govern us are crazy, spoiled brats, supported by the bankers, including the President who is a master in mesmerizing the people with his gift of speech. I applaud Rubio and Posey for trying to expose this madness. The enemy is our leaders, taking us to the desert.

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  2. Did he vote no on congress raise?

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  3. Famous last words, "The agreement locks in $620 billion in high-income revenue over the next ten years." This assumes we stay on the left-hand side of the Laffer Curve for the next 10 years. http://www.americanthinker.com/2012/09/why_the_left_hates_the_laffer_curve.html
    If we end up on the right-hand side we may end up with less revenue. High-income tax payers may well behave differently under these higher taxes. 1) They may move some of their business to other countries. 2) They may just retire and live off of savings and investments paying little or no income tax.

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  4. We Americans are now at the mercy of a government that once was run by and for the people but has now reversed itself and is by the government and for the government. Any one who beleives other is a fool and should be label as such. One final word I have four house members in the GOP all voted for the obama plan, need I say more. God Bless!

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  5. I'm sure he didn't vote against the pay raise. I don't admire Posey nor Rubio for their votes. I would think more of them had they voted "yea". Guess they had no problem with going over the "fiscal cliff".

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  6. Fiscal Cliff is a made up term and made up crisis. It was invented by the media.

    You want to cry about that spending? it is a couple of days worth of expense for the two UNFUNDED wars we are still fighting.

    You want cuts? Great 61% of federal dollars spent is on the military, time to get that in check. We spend more than quadruple our closest adversary. It is INSANE.

    Maybe if we weren't busy sending bullets and bombs everywhere we could take care of our own house and people. Instead you partisan vultures get riled by fleecing politicos and feed on one another.

    Back to matlock now you rubes, wouldn't want to interrupt your busy day of hating..

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  7. Symbolic but it is was the correct choice! The trumped up "fiscal cliff" is NOTHING but smoke screen. In a nutshell it was just lowering the projected future spending increases and did nothing to cut any spending at all!! I would gladly jump over this two inch cliff they made us think was the grand canyon!!!

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