Tiberi RSS Articles

TAX FOUNDATION VIDEO: WHY CORPORATE TAX RATES MATTER

Wed, 22 Feb 2012 05:00:00 GMT

Watch this video by the Tax Foundation about why the corporate tax rate matters and how a lower corporate tax rate on American businesses means more jobs here at home.

TIBERI RETURNS 14 PERCENT OF 2011 OFFICE BUDGET

Fri, 17 Feb 2012 05:00:00 GMT

U.S. Congressman Pat Tiberi (R-OH) today announced he returned 14 percent, $199,489.74, of his 2011 office budget to the government. In fact, Congressman Tiberi’s office spent nearly $90,000 less in 2011 than it did the previous year. Congressman Tiberi’s office has spent less in 2011 than it has since 2007. Since Congressman Tiberi has been in office, he has returned $2,106,249 to the government.

“I believe serving in Congress is a privilege and take the responsibility of spending taxpayer money very seriously,” said Congressman Tiberi. “I continue to push for more responsible federal spending and I believe members of Congress should lead by example. After all, families across the country are making difficult decisions every day, and they should be able to expect the same from their elected representatives.”

This savings is on top of the across the board 5 percent budget reduction enacted when Republicans regained the majority, effectively running his office with a 19 percent budget cut from 2010. Each House member is allotted funds each year to run their offices, pay employees, travel to Washington, D.C., and fund constituent communication.

IN CASE YOU MISSED IT: WALL STREET JOURNAL EDITORIAL: The Amazing Obama Budget

Tue, 14 Feb 2012 05:00:00 GMT

Federal budgets are by definition political documents, but even by that standard yesterday's White House proposal for fiscal year 2013 is a brilliant bit of misdirection. With the abracadabra of a tax increase on the wealthy and defense spending cuts that will never materialize, the White House asserts that in President Obama's second term revenues will soar, outlays will fall, and $1.3 trillion annual deficits will be cut in half like the lady in the box on stage.

All voters need to do is suspend disbelief for another nine months. And ignore the first four years.

The real news in Mr. Obama's budget proposal is the story of those four years, and what a tale they tell.

Four years of spending of more than 24% of GDP, the four highest spending years since 1946. In the current fiscal year of 2012, despite talk of austerity, Mr. Obama predicts spending will increase by $193 billion to $3.8 trillion, or 24.3% of GDP. The top chart shows the unprecedented four-year blowout.
Another deficit of $1.327 trillion in 2012, also an increase from 2011, and making four years in a row above $1.29 trillion. The last time that happened? Never.
Revenues at historic lows because of the mediocre recovery and temporary tax cuts that are deadweight revenue losses because they do so little for economic growth. The White House budget office estimates that for the fourth year in a row revenues won't reach 16% of GDP. The last time they were below 16% for any year was 1950.
All of this has added as astonishing $5 trillion in debt in a single Presidential term. National debt held by the public—the kind you have to pay back—will hit 74.2% this year and keep rising to 77.4% next year. The bottom chart shows the trend.

Economists believe that when debt to GDP reaches 90% or so, the economic damage begins to rise. And this doesn't include the debt that future taxpayers owe current and future retirees through the IOUs in the Social Security "trust fund."

But, lo, says the White House, all of this will change in 2013 if Mr. Obama is re-elected. Next year, revenues will suddenly leap to 17.8% of GDP thanks to tax increases on the wealthy, which we are supposed to believe will have little impact on growth.

Meanwhile, spending will fall by one percentage point of GDP to 23.3%, thanks to the automatic cuts in last year's debt-ceiling bill. But more than half of those are scheduled to come out of defense, which even Mr. Obama's Defense Secretary says are unacceptable. They will be renegotiated next year no matter who wins in November.

The cuts also include an estimated $1 trillion in savings in domestic discretionary programs that also won't happen, especially because Mr. Obama's budget proposes to add $350 billion to these programs. His budget also proposes no meaningful reforms in entitlements, which are the fastest growing part of the budget and will grow even faster once ObamaCare really kicks in.

The only thing that you can be certain will become law in this budget if Mr. Obama is re-elected is the monumental tax increase. His plan would raise tax rates across the board on anyone or any business owners making more than $200,000 for individuals and $250,000 for couples. These are the 3% of taxpayers that Mr. Obama says aren't paying their fair share, though that 3% pays more in income tax than the rest of the other 97%.

A central contradiction of this plan is that the White House predicts accelerating real GDP growth of 3% in 2013 and 4.1% by 2015 even as the economy is whacked by these tax increases. The President's plan would also cancel the investment tax rate reductions that have been in place since 2003, impose a new investment income tax hike of 3.8%, and introduce the new "Buffett rule" on the rich.

Tax rates will rise as follows: capital gains to 30% from 15% today; dividends to 30% from 15%; the estate tax to 45% from 35%, and don't forget the end to the temporary payroll tax cut that Mr. Obama is making such an issue of now. He only wants it to last for another 10 months.

And there will be more. Yesterday, Mr. Obama's chief economic adviser, Gene Sperling, reported that the President wants a new "global minimum tax." Mr. Sperling said the new tax is necessary "so that people have the assurance that nobody is escaping doing their fair share as part of a race to the bottom or having our tax code actually subsidize and facilitate people moving their funds to tax havens." He didn't offer specifics but said the White House will be saying more, "perhaps not in gory detail, but in more detail," by the end of the month.

You would think amid all of its other tax increases that the White House wouldn't need another. But its problem is that other countries rudely compete for capital by keeping their tax rates low, so Mr. Obama wants to punish Americans who dare to take that advantage rather than cut the U.S. rate to 25% to make America more competitive.

Despite its tax increases, the White House still predicts that the annual budget deficit will be $901 billion in 2013 and never fall below $575 billion in any of the next 10 years. Democrats denounced George W. Bush for allowing so much red ink, but his deficits averaged only 3.5% of GDP if you don't count 2001 but do include the 10.1% of 2009. Mr. Obama's deficits have averaged 9.1% of GDP if you count 2009, as you should because his $800 billion stimulus passed that February.

The political reality of budgeting is that voters should only believe what they can see, which is what politicians are proposing now. Promises of future spending cuts are a mirage. Mr. Obama needs to point to the mirage because his fiscal record is the worst in modern American history.

TIBERI STATEMENT: PRESIDENT'S FISCAL YEAR 2013 BUDGET

Mon, 13 Feb 2012 05:00:00 GMT

U.S. Congressman Pat Tiberi (R-OH) today issued the following statement following the release of the president’s fiscal year 2013 budget:

“The president’s fourth budget is filled with more of the same flawed policies he has proposed time and time again. His plan to tax, spend and bail out our way to prosperity is unacceptable. After his last budget failed by a vote of 97-0 to even be considered by the Democrat-controlled Senate, President Obama needs to admit that the time is now to change course and listen to what families and small business owners have been saying. We need to cut spending, decrease the debt, and create a stable environment for small businesses to grow and hire. More than a $1.5 trillion tax increase and more debt and deficit, does nothing to promote stability or ease the burden on hard working families. I look forward to working with my colleagues to pass a responsible budget that will prevent a tax increase, and bring more security and certainty allowing businesses to expand and hire.”

IN CASE YOU MISSED IT: WEEKLY STANDARD ARTICLE: Dem Rep. Kathy Dahlkemper: I Wouldn't Have Voted for Obamacare If I'd Known About HHS Regulation

Tue, 07 Feb 2012 05:00:00 GMT

Former Democratic congresswoman Kathy Dahlkemper, a Catholic from Erie, Pennsylvania, cast a crucial vote in favor of Obamacare in 2010. She lost her seat that November in part because of her controversial support of Obamacare. But Dahlkemper said recently that she would have never voted for the health care bill had she known that the Department of Health and Human Services would require all private insurers, including Catholic charities and hospitals, to provide free coverage of contraception, sterilization procedures, and the "week-after" pill "ella" that can induce early abortions.

"I would have never voted for the final version of the bill if I expected the Obama Administration to force Catholic hospitals and Catholic Colleges and Universities to pay for contraception,” Dahlkemper said in a press release sent out by Democrats for Life in November. "We worked hard to prevent abortion funding in health care and to include clear conscience protections for those with moral objections to abortion and contraceptive devices that cause abortion. I trust that the President will honor the commitment he made to those of us who supported final passage."

Of course, most abortion opponents disagree with Dahlkemper that the HHS regulation is Obamacare's only moral problem. Under Obamacare, each state's federally subsidized health care exchange is required to offer a health insurance plan that covers elective abortions unless the state passes a law opting out of the requirement.

As former Democratic congressman Bart Stupak said when the Senate passed Obamacare in December of 2009, "A review of the Senate language indicates a dramatic shift in federal policy that would allow the federal government to subsidize insurance policies with abortion coverage. Further, the segregation of funds to pay for abortion is another departure from current policy prohibiting federal subsidy of abortion coverage."

Stupak, Dahlkemper, and a handful of other Democrats who held back on voting for final passage of Obamacare eventually voted for the exact same language in the Senate bill because the president signed an executive order saying the law wouldn't fund abortions.

But the executive order signed by President Obama did nothing to prevent the subsidized health care exchanges from covering elective abortions.

IN CASE YOU MISSED IT: COLUMBUS DISPATCH ARTICLE: Tax issue to be solved for NetJets?

Thu, 02 Feb 2012 05:00:00 GMT

For years, a Columbus company that allows people to own the equivalent of a time share of an aircraft has faced a conundrum: Are companies of its sort commercial or general aviation?

The Internal Revenue Service has considered them commercial airlines for tax purposes. The Federal Aviation Administration has considered them general aviation.

The lack of clarity has led to uncertainty and bureaucratic confusion for NetJets, a “fractional aviation” company that employs 1,300 in Columbus and 1,900 across Ohio. Among the key issues: How should such companies be taxed?

But a provision introduced by Rep. Pat Tiberi, R-Genoa Township, in the Federal Aviation Administration reauthorization bill seeks to end the confusion.

“We want to give them some certainty that they will have the same classification in the FAA’s world as they do in the IRS world,” Tiberi said.

Under a provision backed by Sen. Rob Portman, R-Ohio, in the Senate, fractional airlines would receive their own IRS designation, clarifying what taxes are owed by such companies.

Tiberi said the confusion over how the company is classified was a disincentive to fractional companies wanting to locate in the United States. NetJets, based in Columbus, is one of two fractional airplane companies in Ohio; the other, Flight Options, is in Cleveland.

Other countries, Tiberi said, could make it easier for such companies to locate there because of simpler bureaucratic guidelines.

“They have companies all over the world,” he said. “They do business in 170 countries. They could be headquartered in Dubai, they could be headquartered in Switzerland, they could be headquartered in Hong Kong. Fortunately, these good-paying jobs are in Ohio.”

Robert Tanner, vice president of government affairs for NetJets, said the confusion has made it difficult to explain the regulatory framework of the company to prospective clients. He said the company is “elated” by the prospect of clarity.

“The mantra we have had is ‘tax us like we fly,’ ” he said. “We fly as general aviation, and that’s how the tax structure ought to apply to us.”

The final version of the bill is to be voted on by the House this week.

TIBERI: ONE STEP CLOSER TO ABSOLVING UNSUSTAINABLE HEALTH MANDATE

Thu, 02 Feb 2012 05:00:00 GMT

U.S. Congressman Pat Tiberi (R-OH), the Chairman of the Ways and Means Subcommittee on Select Revenue Measures, issued the following statement on the passage of the Fiscal Responsibility and Retirement Security Act (CLASS Act repeal):

“Passing this bill puts us one step closer to fulfilling our promise of repealing the Democrats’ government take-over of health care. While I will continue fighting for the full repeal of Obamacare, I am pleased that we’re chipping away the massive law. Even the White House admitted the long-term care program was unsustainable and insolvent. In fact the measure was opposed by Republicans, Democrats, seniors, and fiscal watchdogs because it was filled with a budget gimmick, leading to another government mandate. I urge my colleagues in the Senate to pass this repeal, removing any possibility of it being implemented and strapping Americans with tax hikes.”

The bill passed the House by a vote of 267-159 late Wednesday and now goes to the Senate for consideration.

In addition to the House-passed repeal of the CLASS Act, all repeals of the Democrats' health care law that have been enacted are a result of efforts by the House Ways and Means Committee. Those actions include:

Repealing the 1099 IRS reporting provision (PL: 112-9),
Reducing wasteful and fraudulent overpayments of taxpayer-funded subsidies (PL: 112-9), and
Striking the Democrats' overly-generous eligibility criteria for Medicare and other taxpayer-funded subsidies to align eligibility with other federally means-tested programs (PL: 112-56).

OFFICIALS TESTIFY TIBERI BILL WOULD CREATE JOBS

Wed, 01 Feb 2012 05:00:00 GMT

U.S. Congressman Pat Tiberi (R-OH), Chairman of the Ways and Means Subcommittee on Select Revenue Measures, today released the following statement after a joint hearing with the Subcommittee on Oversight on the Harbor Maintenance Tax and his Short Sea Shipping bill:

“As we heard today, a disincentive currently exists for companies that ship goods by water between U.S. cities. In fact, we heard ports in the Great Lakes are at 50-60 percent operating capacity. As our infrastructure needs become greater, creating a narrow Harbor Maintenance Tax exemption would encourage American companies to use short sea shipping when other means of transporting goods are available. Passing my Short Sea Shipping bill would not only ease stress on our current infrastructure, it would create jobs and improve the flow of commerce in the United States.”

Congressman Tiberi, along with Congressmen Brian Higgins (D-NY) and Steve LaTourette (R-OH) introduced the Short Sea Shipping Act in April 2011. The bill was referred to the Committee on Ways and Means for further consideration and currently has 39 cosponsors. To read more about the Short Sea Shipping bill click here.

TIBERI MEASURE WOULD CREATE STABILITY IN AVIATION INDUSTRY

Wed, 01 Feb 2012 05:00:00 GMT

U.S. Congressman Pat Tiberi (R-OH) today announced the inclusion of measure to create stability for fractional ownership aviation companies, like NetJets in Central Ohio, in the Federal Aviation Administration (FAA) Reauthorization Conference Report.

“Passing a reauthorization of this important legislation is long overdue,” said Congressman Tiberi, a member of the Conference Committee. “This bill will streamline services, improve safety for customers and allow for growth, expansion, and hiring. Furthermore, the measure I worked to include in the bill would create certainty in the tax code and remove barriers to competition for fractional ownership aviation companies, like NetJets in Central Ohio.”

Fractional ownership companies allow owners to have partial ownership and use of an airplane when they need it, without incurring the entire cost of owning a whole aircraft. Thousands of Americans are working in the fractional ownership industry, building and maintaining planes, flying aircraft, and administering the business. Congressman Tiberi’s measure would help fractional ownership companies, including NetJets and Flight Options in Cleveland, grow by creating certainty in the tax code and removing barriers to competition. Currently, the FAA recognizes fractional ownership planes as private planes while the IRS taxes them as if they were commercial airplanes. Congressman Tiberi moved to streamline the treatment of fractional ownership aviation with a new IRS designation in the FAA Reauthorization. The new designation requires fractional ownership planes to pay the fuel tax used in non-commercial aviation plus a fractional surtax, creating certainty for fractional ownership businesses. This measure standardizes how fractional ownership companies are treated by the IRS and the FAA, removing barriers to competition in foreign markets.

The last multi-year FAA Reauthorization bill expired at the end of fiscal year 2007 and has been temporarily extended 23 times. The current extension expires on February 23, 2012. The House version of the bill passed in April of 2011 by a vote of 223-196. The Senate passed their version by unanimous consent in April of 2011, as well. This reauthorization would expire in 2015.

BROWN, PORTMAN, STIVERS, AND TIBERI URGE OBAMA ADMINISTRATION TO LOCATE PATENT AND TRADEMARK OFFICE IN COLUMBUS

Fri, 27 Jan 2012 05:00:00 GMT

As the United States Patent and Trademark Office (PTO) considers sites for a new satellite office, U.S. Sens. Sherrod Brown (D-OH), Rob Portman (R-OH), U.S. Reps. Steve Stivers (OH-15), and Pat Tiberi (OH-12) urged the Obama administration to place the PTO office in Columbus.

“Ohio offers the advantages of a large state – world class universities, brilliant labor pool, and innovators – coupled with Midwestern value and work ethic,” the letter to United States Patent and Trademark Office Director David Kappos said. “We urge you to strongly consider the Columbus Region for U.S. Patent and Trademark Office.”

The PTO has outlined criteria for an ideal office site, including: world-renowned universities; a highly-skilled workforce; numerous patent filers; reasonable cost of living; and a culture of innovation.

The letter noted the benefits of locating in Columbus including: Ohio’s legacy of innovation; world-class research institutions such as the Ohio State University and Battelle Memorial Institute; a workforce where forty-percent of the population holds an advanced degree and over 140,000 individuals are enrolled as college students; and proximity to innovative global companies such as Procter & Gamble, Goodyear, Honda of America, and First Solar as more than fulfilling the criteria for an ideal PTO site.

January 26, 2012

The Honorable David Kappos

Director

United States Patent and Trademark Office

Mail Stop Congressional Relations

P.O. Box 1450

Alexandria, VA 22313-1450

Dear Mr. Kappos:

The United States Patent and Trademark Office (PTO) will soon select a new satellite office for its operations. We strongly urge you to consider locating one of those offices in Ohio. The PTO is looking for a location with: world-renowned universities; a highly-skilled workforce; numerous patent filers; reasonable cost of living; and a culture of innovation. Ohio can deliver on each of these criteria and is a natural fit for the expanded PTO operations. Furthermore, Ohio’s world-class transit infrastructure ensures that Americans can access Columbus with ease.

As the birthplace of the Wright Brothers and Thomas Edison, Ohio has a long and storied history of innovation. Global companies such as Procter & Gamble, Goodyear, Honda of America, and First Solar today call Ohio home and have long invested in commercializing new technology in the state. Ohio also boasts an impressive lineup of world-class research institutions such as the Cleveland Clinic, The Ohio State University, the Directorate of the U.S. Air Force Research Laboratory, Case Western Reserve University, NASA Glenn Research Center, and Battelle Memorial Institute.

The Columbus Region is an ideal location for a satellite PTO office. Columbus is home to a wide-array of high-level research projects and is home to a workforce where forty-percent of the population holds an advanced degree and over 140,000 individuals are enrolled as college students.

Ohio offers the advantages of a large state – world class universities, brilliant labor pool, and innovators – coupled with Midwestern value and work ethic. We support the enclosed proposal, and urge you to strongly consider the Columbus Region for U.S. Patent and Trademark Office.

Sincerely,

________________________ ________________________

Sherrod Brown Rob Portman

United States Senate United States Senate

________________________ ________________________

Steve Stivers Patrick J. Tiberi

Member of Congress Member of Congress

Why Corporate Tax Rates Matter

Wed, 22 Feb 2012 05:00:00 GMT

Why Corporate Tax Rates Matter

TIBERI TALKS PAYROLL TAX CUT ON NBC4

Thu, 22 Dec 2011 05:00:00 GMT

TIBERI TALKS PAYROLL TAX CUT ON NBC4

TIBERI FLOOR SPEECH: PAYROLL TAX EXTENSION

Wed, 21 Dec 2011 05:00:00 GMT

TIBERI FLOOR SPEECH: PAYROLL TAX EXTENSION

TIBERI FLOOR SPEECH: TRADE AGREEMENTS MEAN OHIO JOBS

Fri, 14 Oct 2011 04:00:00 GMT

TIBERI FLOOR SPEECH: TRADE AGREEMENTS MEAN OHIO JOBS

TIBERI TALKS SPENDING ON 'ALL SIDES WITH ANN FISHER'

Thu, 25 Aug 2011 04:00:00 GMT

TIBERI TALKS SPENDING ON 'ALL SIDES WITH ANN FISHER'

TIBERI TALKS ECONOMY AND DEBT CEILING ON 610 WTVN

Tue, 16 Aug 2011 04:00:00 GMT

TIBERI TALKS ECONOMY AND DEBT CEILING ON 610 WTVN

TIBERI DELIVERS OPENING STATEMENT AT SELECT REVENUE MEASURES SUBCOMMITTEE HEARING ON FOREIGN COMPANIES DOING BUSINESS IN THE UNITED STATES

Thu, 23 Jun 2011 04:00:00 GMT

TIBERI DELIVERS OPENING STATEMENT AT SELECT REVENUE MEASURES SUBCOMMITTEE HEARING ON FOREIGN COMPANIES DOING BUSINESS IN THE UNITED STATES

TIBERI QUESTIONS BUSINESS EXECS ON EFFECTS OF TAX CODE

Fri, 03 Jun 2011 04:00:00 GMT

TIBERI QUESTIONS BUSINESS EXECS ON EFFECTS OF TAX CODE

TIBERI: FLOOR SPEECH ON 1099 REPEAL

Fri, 04 Mar 2011 05:00:00 GMT

TIBERI: FLOOR SPEECH ON 1099 REPEAL

TIBERI FLOOR SPEECH: 1099 REPEAL

Fri, 04 Mar 2011 05:00:00 GMT

TIBERI FLOOR SPEECH: 1099 REPEAL