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Tax reduction is an issue that is currently
being raised by both presidential candidates as well as by Senator Robb and Governor Allen who are competing for election to the U.S. Senate in November. The issue clearly defines the attitudes of the Democratic and Republican parties.
Senator Robb's position on taxes can best be seen in relation to his aim for a balanced budget and deficit reduction, which he has steadfastly pursued during the 1990's. Indeed, the non-partisan Concord Coalition has repeatedly named him to it's deficit Reduction Honor Roll, one of only four senators to be so honored.
He has supported targeted tax reductions, but has refused to back the untargeted reductions favored by Republicans that end up adding to the deficit and conferring tax relief on the wealthiest people in our society. Two cases in point:
1. Estate Tax Repeal
• The Estate Tax at present affects only 2 percent of all estates, in view of the fact that the first $675,000 of each estate is already exempted from the tax.
• Senator Robb supported the Democratic plan that would have raised the exemption and eliminated the tax for most family farmers and small business owners, leaving the tax in place for only the wealthiest people.
• Senator Robb voted against the Republican bill supported by Governor Allen, that would have repealed the tax altogether.
• The Republican bill would have
96.8%