NEWS RELEASE
FOR IMMEDIATE RELEASE
Thursday December 13, 2007

Shadegg leads fight against middle class families

Arizona Republicans vote to raise taxes on 23 million families

Arizona Republicans, led by Rep. John Shadegg, voted against 380,400 middle class families in Arizona, while Arizona Democrats voted to protect them.

Democrats succeeded in giving tax relief to middle class families by passing the Temporary Tax Relief Act (H.R. 3996), which would spare 23 million American families from the alternative minimum tax.

The tax relief was offset by provisions that crack down on wealthy hedge fund managers who shelter their money offshore to avoid taxes. President Bush has threatened to veto the bill.

“It looks like there actually were some taxpayers John Shadegg and other Republicans wanted to help: the millionaire hedge fund managers who hide their money overseas,” said Emily Bittner, communications director for the Arizona Democratic Party. “Nothing could be more out-of-touch with his district or with the needs of average Arizonans.”

Background

•The Temporary Tax Relief Act (H.R. 3996) would cut taxes for 23 million middle-class Americans by providing them relief from the Alternative Minimum Tax (AMT). [H R 4351, #1153, 12/12/07].

•According to Citizens for Tax Justice, an estimated 380,400 taxpayer’s in Arizona will be hit by the Alternative Minimum Tax in 2007.

•Additionally, the Temporary Tax Relief Act will expand the Child Tax Credit to provide tax relief to 12 million families with children