Taxes & Economic Issues

As a fiscal conservative and an advocate of pro-growth free-market society, Congressman Lamborn understands the need to reduce government spending. Since his arrival in Washington, Congressman Lamborn has been dedicated to lowering taxes and minimizing government regulations to maintain a business-friendly economic environment and allow for a vibrant economy.

Congressman Lamborn has pledged never to vote to increase taxes and he has been faithful to that pledge during his entire thirteen-year career in public office—both federal and state. In fact, when Congressman Lamborn was in the state legislature, he was the Senate sponsor of the largest tax cut in Colorado history.

As a Member of the United States House of Representatives, Congressman Lamborn’s goal is to limit government and stop the raid on American wallets. He is a cosponsor of H.R. 2084, the Family Budget Protection Act of 2007. This bill would provide spending caps on the growth of entitlements and mandatory budget outlays and, among other things, would allow the President to use a line-item veto to cut out wasteful spending.

Lower taxes boost our economy. When Americans are allowed to keep more of their own money, they invest in our economy. Congressman Lamborn has a strong record of working hard to protect taxpayers. He believes the government must be resourceful and do more with fewer hard-earned tax dollars. Congressman Lamborn is continuing to fight to make the Bush tax cuts permanent. In addition, he is working to pass a federal Taxpayers’ Bill of Rights, supported by the Republican Study Committee, which will establish four basic rights to ensure that taxpayers across America have a more efficient and accountable government.

• Taxpayers have a right to have a federal government that does not grow faster and more expensive than family incomes grow.
• Taxpayers have a right to receive back each dollar that they entrust to the government for their retirement.
• Taxpayers have the right to expect the government to balance the budgetwithout having their taxes raised.
• Taxpayers have the right to a simple, fair tax code that they can understand.

Congressman Lamborn is also a cosponsor of bills HR 373, 374, and 379 (110^th Congress) to make across the board spending cuts of 1%, 2%, and 5% for non-defense, non-homeland-security discretionary spending. In addition to supporting spending cuts in discretionary spending, he also supports H.R. 489, the Commission On Reforming Entitlement Spending Act or CORE Act, to produce legislative answers to expensive and long-term entitlement spending burdens.

Congressman Lamborn supports full and permanent repeal of the Death Tax and is a cosponsor of H.R. 2380 to permanently repeal this burdensome tax.

Below is a list of some of the tax-related and economic legislative actions Congressman Lamborn has taken to secure and advance American economic interests:

111^th Congress Legislative Action Coming Soon!

Major Legislative Actions of the 110^th Congress

H.R.2734 – Tax Increase Prevention Act of 2007: This bill would make the Bush tax cuts from 2001 and 2003 permanent. These tax cuts are currently set for expiration on December 31, 2010. Among the highlights would include making permanent the tax deduction for state and local sales taxes, the tax deduction for tuition and related expenses, and the increased expensing allowance for small business assets and related provisions.
H.R.1085 – Armed Forces Tax Relief Act of 2007: This legislation would exempt combat zone compensation of members of the Armed Forces from employment taxes. It would appropriate amounts to cover Social Security trust fund deficits resulting from such tax exemption.

 H.R.2084 – Family Budget Protection Act of 2007: Provides spending caps on the growth of entitlements and mandatory budget outlays. Among other items it would allow the President to use a line-item veto to cut out wasteful spending.

H.R. 2380