Minnesota tax group endorses Dayton plan

Minnesota Citizens for Tax Justice has endorsed U.S. Senator Mark Dayton’s plan to provide tax relief and stimulate the economy.

‘Senator Dayton’s plan is sound,’ said Wayne Cox, executive director of the group, which advocates for tax fairness.

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‘It avoids the problems of the President’s plan. It provides tax relief in a way that is more likely to stimulate the economy now, while avoiding the destabilizing future deficits of the President’s plan. Also, more of the dollars go to families who need the help the most.’

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Dayton’s plan would provide an additional tax cut of up to $600 for couples and $300 for individuals in the lower tax brackets. He would freeze the top tax brackets at their current levels.

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Dayton, a Democrat from Minnesota, opposes the president’s plan to eliminate the estate tax, but would increase the individual exemption to $4 million, lower the rates and exempt family farms and small businesses. Dayton also opposes the president’s plan to eliminate the tax on dividend income, because, he said, ‘well over half its benefits would go to the wealthiest one percent of taxpayers.’

Cox said the Dayton plan is sound and would ‘help restore confidence in the economy through requirements for greater corporate accountability and curbs on tax shelter abuse.’

For more information

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Visit Senator Dayton’s website, http://dayton.senate.gov/tax_cuts.html

Read several analyses of the federal budget and President Bush’s plan on the Citizens for Tax Justice website, www.ctj.org

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