Thursday, June 26, 2008

Wolf Votes Against AMT Relief, for the Oil Companies

Another day, yet another party line vote by Frank Wolf, this time on H.R. 6275, "To amend the Internal Revenue Code of 1986 to provide individuals temporary relief from the alternative minimum tax, and for other purposes." The House vote yesterday was 233-189, with Frank Wolf joining most of his Republican colleagues in opposing the measure.

According to the AP story, "The legislation would save mostly upper-middle-income taxpayers exposed to the tax an average $2,300 in 2008." What could be wrong with that? Apparently, Frank Wolf doesn't like the fact that the bill "would offset the $61 billion cost by raising taxes on oil companies and hedge fund managers." Whoops, increasing taxes on ExxonMobil, which has been making record profits in the history of mankind, in order to provide some relief to American consumers as they struggle to afford rising fuel and food prices? Nope, can't have that. At least, not in Frank Wolf's world.

It's time for a change in the 10th CD.

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