While nobody argues against fair levels of taxation to fund the critical functions of government, it is clear to me that the federal government spends too much and is expanding well beyond what we can afford. We need to reduce the tax burden on the American people.
Now more than ever, we also need to reform and simplify our tax code, and I am working on many initiatives to accomplish this goal, including:
Replacing our tax code with something much more fair and simple.
Cutting income tax rates across the board for everyone who pays taxes.
Ensuring that we do not face the largest tax hike in our history by extending current tax relief and not allowing tax rates to increase automatically.
Permanently ending or significantly reducing the federal estate tax.
Helping small businesses expand through higher expensing caps and other tax incentives.
(Washington, D.C.) - U.S. Sens. David Vitter (R-La.) and Sherrod Brown (D-Ohio) sent a bipartisan letter urging Federal Reserve Chairman Ben Bernanke to increase the capital requirements of megabanks.
“Placing higher capital requirements on megabanks is a common sense way to fix the dangers of too-big-to-fail, and Chairman Bernanke has even said this would make our financial system safer with limited impact on the economy,” said Vitter. “The megabanks should bear their own risks so that taxpayers won’t get hung out to dry with another Wall Street bailout.”
(Washington, D.C.) - U.S. Sen. David Vitter today opposed legislation that would have not only increased taxes on small business owners and job creators, but also would have increased the death tax, impacting Louisiana farmers and other small businesses like seafood producers.
(Washington, D.C.) - U.S. Sen. David Vitter today made the following statement after President Obama’s announcement to increase taxes. At a press conference today, President Obama announced his plan to let some of the 2001 and 2003 tax cuts expire, resulting in a $850 billion tax increase.
(Washington, D.C.) - U.S. Senator David Vitter today received the 2011 Taxpayers’ Friend award from the National Taxpayers Union (NTU). The award rec Read More
(Washington, D.C.) - United States Senator David Vitter (R-La.) today sent a letter urging U.S. Treasury Secretary Timothy Geithner to end the Supplemental Directive on the Making Home Affordable Program and return that taxpayer money to the Treasury. An estimated $41 billion is sitting unused for the program, which could be returned. U.S. Sen. Jim DeMint (R-S.C.) joined Vitter’s letter.
(Washington, D.C.) - U.S. Sen. David Vitter made the following statement after a vote on a resolution to block an increase of the debt ceiling.Read More
(Washington, D.C.) - U.S. Sen. David Vitter today made the following statement after the White House announced that President Obama would use a recess appointment to name Richard Cordray to serve as “credit czar,” or head of the Consumer Financial Protection Bureau.
“This is an unprecedented move, and frankly, it’s pretty troubling. No president from either party in recent memory has made a recess appointment when Congress is not truly in recess – until today.Read More
(Washington, D.C.) - U.S. Sen. David Vitter today made the following statement about the Super Committee’s failure to reach an agreement on cutting the deficit by at least $1.2 trillion.Read More
(Washington, D.C.) - U.S. Sen. David Vitter today made the following statement after reports that Freddie Mac is seeking a $6 billion bailout from U.S. taxpayers to cover its losses in the third financial quarter. Fannie Mae is expected to follow suit next week with another multi-billion-dollar bailout request, and the Federal Housing Finance Agency just approved $12.79 million in bonuses to be paid to 10 Fannie Mae and Freddie Mac executives.