April 14, 2011

Taxpayers Group Credits Crapo's Efforts

Earns near-perfect â??Aâ?? score by the National Taxpayers Union

Washington, D.C.   - The National Taxpayers Union (NTU) today presented Idaho Senator Mike Crapo with its "Friend of the Taxpayer Award," for his voting record during the 2010 legislative session.  Senators must earn at least a 95 percent score for their votes on NTU's legislative priorities in order to qualify for the award.  Crapo finished with a 99 percent score; only two Senators received a higher score for 2010.  The scores were based on 142 roll call votes in the Senate.

NTU Executive Vice President Pete Sepp said, "Senator Crapo's truly outstanding top-five finish on NTU's Rating of Congress is proof positive of his commitment to fighting for taxpayers every single day. Idahoans could count on his rock-solid leadership when they -- and all taxpaying Americans -- needed it most. We look forward to working alongside Senator Crapo as we continue to rebuild fiscal responsibility in Washington."

Crapo served on the National Commission on Fiscal Responsibility and Reform, and is now working with a bipartisan group of Senators to bring a form of the Commission's recommendations, to reduce spending by $4 trillion, before Congress.  The report issued in December by the Commission proposed to reduce the deficit by about $4 trillion over the next decade by enacting significant cuts to discretionary and entitlement spending, paired with comprehensive reform to the tax code, which would dramatically simplify the tax code, reduce all income tax rates and make America's corporate tax code more competitive.

This approach, supported by Crapo, recognizes that trying to raise more revenue by raising tax rates will have a harmful effect on the economy, on jobs and ultimately on the amount of revenue collected by the government.  On the other hand, comprehensive tax reform supported by Crapo, and the many economists who met with the Commission, will generate a significant boost to employment and economic growth, leading to increased revenue over time, without raising taxes.   "We have one of the highest corporate tax rates in the world, which puts American business at a competitive disadvantage and discourages investment and the creation of new jobs," Crapo said.  "The answer is a flatter, fairer, more competitive tax rate.  We must reform our tax code, and by doing so we can generate significant increases in revenue without raising tax rates.  The bottom line is promoting economic growth in our private sector.  As we have seen, government spending is not working to get the economy moving."

The bipartisan group, dubbed the "Gang of Six" by some observers, continues to meet almost daily but Crapo said he can't predict a timetable nor disclose every nuance of the discussions.  "We don't focus on any one area but we are in general agreement that we need to cut spending and reform entitlements and the tax code if we are to save the nation from economic disaster.  When the head of our military, the Chairman of the Joint Chiefs of Staff, calls our debt and deficit the largest threat to our national security, it's time to lay partisanship aside, roll up our sleeves and agree on plans to cut government."