WASHINGTON - Monday's income tax deadline has inspired lawmakers to introduce more than a dozen tax related bills. Among them, a proposal by Rep. Cedric Richmond, D-New Orleans, that would allow the Internal Revenue Service to certify paid tax preparers, and make sure they are competent, of good character, and qualified to give tax advice. Rep. Steve Scalise, R-Jefferson,...
WASHINGTON - Monday's income tax deadline has inspired lawmakers to introduce more than a dozen tax related bills. Among them, a proposal by Rep. Cedric Richmond, D-New Orleans, that would allow the Internal Revenue Service to certify paid tax preparers, and make sure they are competent, of good character, and qualified to give tax advice.
Reps. Cedric Richmond, left, and Steve Scalise have offered tax related bills.
Rep. Steve Scalise, R-Jefferson, reintroduced his bill from last session that would set up a process in which taxpayers can use their tax returns to donate money to reduce the federal deficit. He calls it the "The Buffett Rule Act after billionaire investor Warren Buffet who has said it's unfair that he pays a lower tax rate than his secretary.
Scalise said this would allow Buffet to show he's sincere with his comments.
Also introduced in the last several days were bills that would bar the Treasury Department and Environmental Protection Agency from imposing a carbon tax to reduce emissions related to global warming, and a bill that would impose a sale tax on Wall Street transactions.
Rep. Keith Ellison, D-Minn, who plans to introduce the bill Wednesdays, says the sales tax would help fund vital programs in healthcare, education and the fight against HIV/AIDs. He says 11 European nations have already adopted a similar tax aimed at transactions that generate lots of profits for big financial firms but no revenue for government programs.
Richmond, the New Orleans Democrat, said it's time for the federal government to take steps to insure tax preparers relied on by so many Americans to complete increasingly complicated returns are both competent and ethical.
"This bill is a long overdue step towards protecting average Americans who shouldn't have to worry about being defrauded," Richmond said.
Scalise, the Jefferson Republican who chairs the House Republican conservative caucus, is continuing his fight with his Buffet legislation against Obama administration proposals to eliminate tax breaks on wealthy Americans and corporations and use part of the proceeds for deficit reduction and part to fund new programs to generate jobs.
"If Warren Buffett and others truly feel like they're still not paying enough in taxes, they can use this Buffett Rule Act to put their money where their mouth is and voluntarily send in more to pay down the national debt, rather than raising taxes on hard-working Americans," Scalise said.