A defining issue in the coming 2008 U.S. Senate campaign between Boulder liberal Rep. Mark Udall and former Congressman Bob Schaffer is the issue of taxes. Yesterday, the House voted to shield many middle-class families from the harsh effects of a scheduled tax increase under the Alternative Minimum Tax (AMT), while raising taxes on entrepreneurs and the investor class by $81 billion. The better alternative would have been to spare the middle class without a tax hike on anyone. However, Udall voted with bill sponsor Charlie Rangel (D-NY) and the Democrat majority.
Back in 1999, the House had a vote to abolish the harmful AMT structure and provide $800 billion in across-the-board tax relief to Americans. Schaffer voted in favor of tax relief. Udall voted against tax relief, and to keep the AMT in place.
Shifting the tax burden and preserving the AMT is only the first phase in Rangel's plan to slow down the economy with an $800 billion tax hike that more than 80 percent of financial advisors say is a terrible idea.
With Udall's 1999 vote against tax relief and his vote yesterday for $81 billion in new taxes among his long history as a tax-raising Congressman, don't Coloradans have the right to know where Udall stands on Rep. Rangel's crushing $800 billion tax-hike plan? Meanwhile, his campaign remains silent on the issues, going on 10 days now.