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Capitol Capital Group Issues Report March, 2008
CAPITOL CAPITAL GROUP TOUR OF MECACC CHAPTERS IN THE GULF RAISES LOBBYING CAMPAIGN AWARENESS CCG President, Mike Jones, recently visited MECACC chapters in Kuwait, Dubai, Abu Dhabi, Bahrain and the Eastern Province of Saudi Arabia. During the tour of the region, Jones spoke to MECACC members about the details of the organization’s Washington lobbying campaign, current events inside the Beltway, and the importance of Door Knock. The tour was intended to raise awareness about the effectiveness of political activism amongst MECACC members in advancing the notion that Americans Abroad=U.S. Exports=Jobs at Home. Jones urged AmCham members in each city to vocalize support for the Working American Competitiveness Act in both the House and Senate. Upon concluding the tour, CCG learned that the House sponsor of the legislation, Congressman Greg Meeks, has received dozens of emails in support of his Bill from Americans residing in the GCC. A second tour of MECACC chapters not visited this winter is being scheduled for October of 2008.
DOOR KNOCK 2008 PREPRERATION IN FULL SWING
CCG is actively planning the upcoming MECACC Door Knock. All MECACC members are encouraged to attend. In order for CCG to prepare for each attendee, specific information is required. Please note the final date to register for MECACC’s 2008 Door Knock is April 4, 2008. It is important that each MECACC Door Knocker provides CCG with the following information:
CCG has priced out hotels in the vicinity of Capitol Hill that are convenient to metro stations. All of the average nightly rates for the month of May were found on hotels.com. For further Information please call 1-800-804-6835. CCG recommends the following hotel options:
Phone: 1-888-874-0100 924 25th St. NW, Washington, D.C 20037 *$249 – lowest average nightly rate *2 blocks from Foggy Bottom Metro Stop (Blue and Orange lines)
Phone: 1-202-842-1300 or 1-800-424-1140 10 Thomas Circle NW, Washington, D.C 20005 *$290.67 – lowest average nightly rate *4 blocks from McPherson Metro Station (Blue and Orange lines)
Phone: 1-202-828-2600 or 1-800-4245486 2019 Pennsylvania Ave, Washington D.C 20006 *305.67(Standard Room w/king) - $405.67(suite) lowest average nightly rate. *Farragut West Metro Stop (Blue and Orange lines)
Phone: 1-202-783-7800 815 14th St. NW, Washington D.C. 20005 *$309 – lowest average nightly rate *McPherson Metro Station (Blue and Orange lines)
Phone: 1-202-730-8800 or 1-202-730-8500 806 15th St. NW, Washington, D.C. 20005 *$360 - $395 lowest average nightly rate *1 block from McPherson Metro Station
Phone: 1-202-484-1000 / Reservations: 1-800-635-5065 480 L’Enfant Plaza Way, Washington, D.C. 20024 *$377.33 – lowest average nightly rate *L’Enfant Plaza Metro Stop (Blue, Orange, Yellow and Green lines)
Phone: 1-202-862-1600 1177 15th St. NW, Washington D.C. 20005 *$459 (Deluxe Room) - $539 (Penthouse Junior Suite)- lowest average nightly rate. * about 2 blocks from McPherson Metro Station
Phone: 1-202-479-0027 140 L St. SE, Washington D.C. *$299 lowest average nightly rate *7 blocks from the Capitol *1 block from Navy Yard Metro Station (Green Line)
Phone: 1-202-638-6900 or 1-800-824-5419 520 N. Capital St., Washington D.C. *$362.33 lowest average nightly rate *0.4 miles from the Capitol *1 block from Union Station metro stop (Red line)
Phone: 1-202-638-6600 800 16th St. NW, Washington D.C *$434.00 lowest average nightly rate *Easily accessible to McPherson and Farragut West Metro Stations (Blue and Orange lines)
Please email CCG if you require any further assistance in arranging hotel accommodations. We are here to help!
BAUCUS NAMES LIZ FOWLER AS SENIOR COUNSEL
Senate Finance Committee Chairman Max Baucus (D-Mont.) has hired Liz Fowler as Senior Counsel to the Chairman. Fowler previously worked for Baucus at the Finance Committee from 2001 to 2005 as the Chief Health and Entitlements Counsel for the Democratic staff. Among other matters, her new portfolio for the Committee will include the panel’s yearlong preparation for broad-based health care reform.
Fowler previously worked as Medicare Counsel to Senator Patrick Moynihan (D-NY) on the Finance Committee and as an aide to Rep. Pete Stark on the Joint Economic Committee (JEC). She practiced health care law with the Washington Law firm of Hogan & Hartson, was a health services researcher with Health System Minnesota, and worked on Medicare payment policy at the Health Care Financing Administration (HCFA).
Fowler holds a bachelor’s degree from the University of Pennsylvania, a Ph.D. from Johns Hopkins University and a law degree from the University of Minnesota.
NEWS RELEASE FROM SENATOR MAX BAUCUS, SENATE FINANCE COMMITTEE:
March 13, 2008
Senate Puts Baucus Tax Cuts in Budget For Families, Homeowners, American Soldiers Finance Chairman’s amendment extends marriage penalty relief and tax credits for families with children, creates tax cuts for members of military and homeowners, and stops spike in estate tax rates.
“Washington, DC – Senate Finance Committee Chairman Max Baucus (D-Mont.) today won overwhelming Senate passage of his plan to cut $340 billion in taxes for America’s working families, and particularly for the nation’s military men and women. A Baucus amendment to the Senate budget extends a number of 2001 tax cuts that help working families, including a tax credit provided for each child in a family and relief from the joint-filing penalty paid by America’s married couples. Baucus’s amendment includes fully paid-for tax relief to members of America’s military, including a provision allowing combat pay to count toward a refundable federal income tax credit that puts cash in the hands of low-income working individuals and families. Baucus’s amendment also makes available a new standard deduction for property taxes to more than 28 million American homeowners.
“Times are tight for a lot of parents, a lot of homeowners, and certainly for the men and women serving our country overseas. Plain and simple, America’s working families need these tax cuts,” said Baucus. “The tax cuts in my amendment will help married couples, moms and dads, and all our military folks, as well as homeowners who could use some tax help too. With this vote, we’re doing what’s right for Montana and for states across the nation – sending extra budget dollars back to the folks who need them most.
permanent extension of the 10 percent income tax bracket, resulting in savings for every taxpayer – average $498 permanent extension of the increased refundable child tax credit, with additional eligibility for lower-income Americans, saving 31.3 million Americans and average $1,025 permanent marriage penalty tax relief, saving 29.5 million American couples at an average of $686 per year permanent extension of the tax credit for child care expenses permanent extension of the increased adoption tax credit
The amendment also provides an extension of 2009 estate tax law, including rate and exemption levels. This will stop a 2011 spike in estate tax rates and protect tens of thousands of Americans from paying the estate tax at all. Baucus favors the full repeal of the estate tax.
To help more of America’s 72 million homeowners access tax relief, the Baucus amendment also provides a new standard deduction for property taxes for those Americans who do not itemize on their Federal tax returns. Under the Baucus plan, approximately 28.3 million property taxpayers who do not itemize would be eligible for a property tax deduction of $500 for single filers and $1000 for married couples filing jointly.
Also included are the provisions of Baucus’s 2007 military tax relief bill, the “Defenders of Freedom Tax Relief Act,” including:
· A permanent allowance for soldiers to count their non-taxable combat pay when figuring their eligibility for the earned income tax credit, a refundable federal income tax credit that puts cash in the hands of low-income working individuals and families. · A tax cut for small businesses when they continue paying some salary to members of the National Guard and Reserve who are called to duty. · An end to cumbersome rules for reporting of income when companies continue paying some salary to members of the National Guard and Reserve who are called to duty. This makes it easier for reservists to file their taxes and simpler for employers to keep contributing to those employees’ retirement plans. · The ability for active duty troops to withdraw money from retirement plans, and an allowance of two years to replace the funds without tax penalty. · Extension of a provision that gives retired veterans more time to claim a tax refund on some types of disability benefit payments. · Authority for the IRS to treat gifts of thanks from states to veterans – such as payments of excess state revenue – as nontaxable gifts. · A permanent extension of a provision that gives intelligence service employees a longer period of time to meet residency requirements necessary to exclude profits from the sale of their home from capital gains tax, which is often necessary due to frequent deployment. In the legislation passed today, this provision is also extended to members of the Peace Corps. · Permission for a soldier’s basic housing allowance to be excluded when their income status is being determined for purposes of a developer’s eligibility for low-income housing credits and tax exempt bonds. · The ability for families of Reservists killed in the line of duty to collect life insurance and other benefits provided by the civilian employer (Included in H.R. 3997). · A permanent allowance for all veterans to use qualified mortgage bonds to purchase their homes. · The ability for families of soldiers killed in the line of duty to contribute up to 100 percent of survivor benefits to retirement savings accounts or to education savings accounts. · A 180-day period for Reservists called to active duty to use unspent funds in a health flexible spending account or cafeteria plan.
While surplus budget funds cover the cost of most of the Baucus provisions, military tax relief is paid for with four additional offsets. The bill makes certain that individuals who relinquish their U.S. citizenship or long-term U.S. residency pay the same Federal taxes for appreciation of assets, such as stocks or bonds, which they would pay if they sold them as U.S citizens or residents. It also increases the penalty for entities failing to file required information returns. Another offset allows reservists returning from a tour of duty to opt back into a civilian employer’s health insurance plan. Finally, the package allows the Social Security Administration and the Veteran’s Administration to work together to verify low-income status when distributing veteran’s benefits.
To help families along America’s Gulf Coast continue to rebuild after Hurricanes Katrina and Rita, the Baucus amendment also keeps those families from being hit with extra taxes when they take state grants. The amendment will ease tax burdens on homeowners who claimed a casualty loss deduction following the 2005 hurricanes and who have also received state Road Home rebuilding grant.
Under the amendment, any surplus budget funds remaining are to be designated for tax relief as well.
For more facts and figures on the Baucus amendment and its help for American taxpayers, see the Senate Finance Committee report, “Tax Cuts for Families, Homeowners, and Soldiers,” at http://finance.senate.gov/Bpress/2008press/prb031308.pdf . ”
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