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Politics : Don't Blame Me, I Voted For Kerry -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (21449)	5/9/2004 1:30:16 AM
From: CalculatedRisk	Read Replies (1) \| Respond to of 81568

You are incorrect. You wrote: "And Kerry voted against it because he wanted the bill re-written to include a reveral of all of Bush's tax cuts. All of them." Wrong. The Senate Bill was S.1689. An amendment was originally attached (AMDT.1796) that provided "funds for the security and stabilization of Iraq by suspending a portion of the reductions in the highest income tax rate for individual taxpayers." Kerry voted for the bill with the amendment. He voted against it with the amendment removed. Here is the text of the amendment: SEC. __. (a) PROVISION OF FUNDS FOR SECURITY AND STABILIZATION OF IRAQ THROUGH PARTIAL SUSPENSION OF REDUCTIONS IN HIGHEST INCOME TAX RATE FOR INDIVIDUAL TAXPAYERS.--Section 1 of the Internal Revenue Code of 1986 (relating to tax imposed) is amended by adding at the end the following new subsection: ``(j) PROVISION OF FUNDS FOR SECURITY AND STABILIZATION OF IRAQ THROUGH PARTIAL SUSPENSION OF REDUCTIONS IN HIGHEST INCOME TAX RATE.-- ``(1) IN GENERAL.--In the case of any taxable year beginning in 2005, 2006, 2007, 2008, 2009, and 2010, the 35 percent rate of tax under subsections (a), (b), (c), and (d) shall be adjusted to the percentage determined by the Secretary to result in an increase in revenues into the Treasury for all taxable years beginning in 2005, 2006, 2007, 2008, 2009, and 2010 equal to $87,000,000,000. ``(2) ADJUSTMENT OF TABLES.--The Secretary shall adjust the tables prescribed under subsection (f) to carry out this subsection.''. (b) EFFECTIVE DATE.--The amendment made by this section shall apply to taxable years beginning in 2005