What: All Issues : Fair Taxation : HR 4931. Pension Tax Incentives/Vote to Recommit to Committee a Bill to Create a Complex Set of Tax Incentives for Pension Contributions that Fails to Address Issues of Corporate Corruption Involving Employee Pension Accounts. (2002 house Roll Call 247)
 Who: All Members : New York, District 2 : King, Pete
[POW!]
 
HR 4931. Pension Tax Incentives/Vote to Recommit to Committee a Bill to Create a Complex Set of Tax Incentives for Pension Contributions that Fails to Address Issues of Corporate Corruption Involving Employee Pension Accounts.
house Roll Call 247     Jun 21, 2002
Member's Vote
(progressive
or not)
Progressive Position
Progressive Result
(win or loss)

House Republicans were determined in 2002 to make permanent as much of Bush's tax cuts of 2001 as possible. Most of them had been temporary, with expiration around 2010. One of the provisions they sought to lock in place was a series of incentives to encourage participation in pensions and retirement plans. Progressives saw Republican attempts to extend these pension tax breaks as a perfect opportunity to push corporate reforms in light of the scandals at Enron and other companies. This vote was a motion to recommit, or send back, the bill to the committee that wrote it with specific instructions that language prohibiting "corporate inversion" be added to the bill. Corporate inversion was the practice of escaping taxes by inverting a corporation's structure so that a subsidiary located in a tax-free country becomes the parent company. The motion, supported by Progressives, was defeated, 186-192.

N Y L
Issue Areas:
Key: Y=Yea, N=Nay, W=Win, L=Loss