Vote Comes Despite High Unemployment & Warnings From Florida Farmers & Small Business Owners That Higher Taxes Would “Devastate” Job Growth

Just as he’s done over 140 times in his roughly 40 year career in Washington, Florida’s liberal senior Senator Bill Nelson stood with President Obama today and voted for a massive tax hike on Florida small businesses, families, farmers and ranchers.  Nelson even voted to reinstate the massive death tax, despite previously claiming to oppose it.

“Liberal Bill Nelson has never met a tax hike that he didn’t like and once again, standing behind President Obama was more important for Senator Nelson than standing up for Florida farmers and small business owners,” National Republican Senatorial Committee (NRSC) spokesman Brian Walsh said today.  “Under Nelson and Obama’s watch we’ve seen 41 straight months of unemployment above 8 percent, an almost $16 trillion debt and over 1,100 days without a budget.  If Floridians want to reverse course and restore common-sense in Washington, they can start by retiring Bill Nelson in November.”

Remarkably, Nelson’s vote came just hours after President Obama’s own Treasury Secretary testified before a House Committee and admitted that the “economy is not growing fast enough and unemployment is very high.”  

It also comes just days after Nelson claimed to oppose the President’s tax plan saying that he preferred to see the tax hike threshold set at $1 million.  This was also echoed by Nelson’s office last year when they said because of the current economic uncertainty Nelson would not support raising taxes for those making over $200,000 a year.  And just yesterday, the Florida Farm Bureau sent a letter to Senators saying point blank that the Democrats’ tax bill “will have a devastating impact on Florida farms and ranches.”

BACKGROUND.…

Treasury Secretary Timothy Geithner Admitted Just Today That “The Economy is Not Growing Fast Enough.” GEITHNER: “But I’ll tell you my general view on this. The economy is not growing fast enough. Unemployment is very high. Huge amount of damage left in the housing market.” (House Financial Services Committee, U.S. House Of Representatives, Hearing, 7/25/12)

On October 4, 2011, Nelson’s Spokesman Said Nelson Could Not Support Tax Increases On People Making More Than $200,000 A Year. “Senate Democrats don’t have enough votes to pass President Obama’s jobs bill, and Florida Sen. Bill Nelson is among those wavering on the measure. ‘The president’s jobs plan has some things Senator Nelson favors, like extending and expanding the payroll tax cut. But it also has some things he’s even voted against before, like increasing income tax rates on people who make more than $200,000 a year,’ Nelson spokesman Dan McLaughlin said Monday. (Kenric Ward, “Bill Nelson Waiting For Final Jobs Package; GOP Foes Blast Him Now,” Sunshine State News, 10/4/11)

July 9, 2012, Bill Nelson Announced He Supported Extending The Tax Cuts For Everybody Making Less Than $1 Million A Year – Seemingly Opposing The President’s Tax Plan. “President Obama right now is outlining his proposal to extend the Bush-era tax cuts for families making less than $250,000. That would mean families and individuals who make more would see their rate increase. … But he’ll run into immediate opposition from Republicans and some Democrats, including Florida Sen. Bill Nelson, who is seeking re-election. ‘Sen. Nelson supports permanently extending the Bush-era tax cuts that are due to expire at the end of this year for everybody making less than $1 million a year,’ spokesman Dan McLaughlin said.” (Alex Leary, “Bill Nelson Differs With Obama On Bush-Era Tax Cuts,” Tampa Bay Times, 7/9/12)

• “Democratic Florida Sen. Bill Nelson’s ‘Favored’ Position Is To Permanently Extend The Bush-Era Tax Cuts For Those Making Less Than $1 Million, According To His Office.” (Seung Min Kim, Manu Raju and Scott Wong, “Some Dems Buck Obama On Taxes,” Politico, 7/10/12) 

July 13, 2012, Majority Leader Reid Announced A Tax Plan That Only Extended The Tax Cuts For Those Earning Less Than $200,000. “Senate Democrats will push a one-year tax cut proposal for individual Americans earning $200,000 or less annually, setting the stage for a showdown in coming weeks with Republicans over extending the Bush tax cuts, according to a new plan circulating on Capitol Hill.” (John Bresnahan, “Senate Dems Push One-Year Tax Cut,” Politico, 7/13/12)

• “With Only 53 Democrats – And Reid Calling For A Straight Majority Vote For Any Tax Proposal – Democratic Leaders Cannot Afford To Lose Any Support.” (John Bresnahan, “Senate Dems Push One-Year Tax Cut,” Politico, 7/13/12)

ADDITIONAL BACKGROUND….

Florida Farmers & Small Business Owners Spoke Out Against Bill Nelson’s Tax Hike

FLORIDA FARMERS TODAY: “This will have a devastating impact on Florida farms and ranches … the Estate Tax would often result in farms being closed, land being sold and businesses being lost.” (Letter, Florida Farm Bureau Federation, 7/24/12)

• A PROMISE BROKEN — SEN. BILL NELSON IN 2000: “…with regard to the inheritance tax, I have always been in favor of eliminating this tax. I voted for a significant reduction in 1981 and for a modification in 1986. To me the inheritance tax represents a double tax. People have paid taxes as they have accumulated their assets during their lives. And I think we ought to pass that on to their families and to their loved ones without most of it being eaten up by the government.” (“Differences Wide As Candidates Take Stands; Bill Nelson,” The Ledger [Lakeland, FL], 11/3/00) 

CHAMBER OF COMMERCE: “Increasing taxes now will undermine economic recovery, choke off job creation, and take money out of the hands of the individuals and businesses that create jobs, spur investment, boost consumption, and promote economic growth.” (“Key Vote Alert On S. 3412, The “‘’Middle Class Tax Cut Act,’” The Chamber Of Commerce, 7/24/12) 

• “The Chamber urges you to oppose S. 3412, which would impose a massive tax hike on American businesses.” (“Key Vote Alert On S. 3412, The “‘’Middle Class Tax Cut Act,’” The Chamber Of Commerce, 7/24/12) 

NATIONAL FEDERATION OF INDEPENDENT BUSINESS: “This legislation would raise tax rates on small businesses at a particularly fragile time for the economy, stifling growth and investment when we can least afford it.” (National Federation Of Independent Business, Letter To Senators, 7/24/12)

• “This tax hike disproportionately impacts small businesses… will shrink the economy by 1.3 percent and result in the loss of 710,000 jobs.” (National Federation Of Independent Business, Letter To Senators, 7/24/12)

• “…the maximum estate tax rate will revert to 55 percent while the exemption level will drop to $ 1 million. This will increase the number of estates hit with the tax from 3,600 to 46,700, including 21,700 small businesses.” (National Federation Of Independent Business, Letter To Senators, 7/24/12)

NATIONAL ASSOCIATION OF MANUFACTURERS: “…S. 3412 would result in higher taxes for the vast majority of manufacturers in the United States, threatening their ability to create jobs. …the possibility of these tax increases has forced many manufacturers to put investment and hiring plans on hold.” (National Association Of Manufacturers, Key Manufacturing Vote Letter, 7/14/12)

• “…the bill’s plan to restore estate tax rates and exemptions to pre-2001 levels would hit thousands of family-owned SMMs across our nation.” (National Association Of Manufacturers, Key Manufacturing Vote Letter, 7/14/12)

• “As our economy struggles to regain its footing, now is not the time to increase taxes on job creators and investors.” (National Association Of Manufacturers, Key Manufacturing Vote Letter, 7/14/12)

NATIONAL ASSOCIATION OF WHOLESALER-DISTRIBUTORS: “This legislation would in fact do very great harm to the middle class it purports to help.” (National Association Of Wholesaler-Distributors, Open Letter To Senators, 7/24/12)

• “Despite the unemployment crisis, the Senate is set to vote on legislation which will indisputably make matters worse.” (National Association Of Wholesaler-Distributors, Open Letter To Senators, 7/24/12)