[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 111 Introduced in Senate (IS)]

112th CONGRESS
  1st Session
S. RES. 111

  Expressing the sense of the Senate that Congress should reject any 
     proposal for the creation of a system of global taxation and 
                              regulation.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 29, 2011

 Mr. Vitter submitted the following resolution; which was referred to 
                        the Committee on Finance

_______________________________________________________________________

                               RESOLUTION


 
  Expressing the sense of the Senate that Congress should reject any 
     proposal for the creation of a system of global taxation and 
                              regulation.

Whereas many proposals are pending in Congress--

    (1) to increase taxes;

    (2) to regulate businesses; and

    (3) to continue runaway Government spending;

Whereas taxpayer funding has already financed major, on-going bailouts of the 
        financial sector;
Whereas the proposed cap-and-trade system would result in trillions of dollars 
        in new taxes and job-killing regulations;
Whereas a number of nongovernmental organizations are proposing that a cap-and-
        trade regulatory system be adopted on a global scale;
Whereas the ``outcome document'' produced by the September 20-22, 2010, United 
        Nations Summit on the Millennium Development Goals (MDGs) commits the 
        nations of the world, including the United States, to supporting 
        ``innovative financing mechanisms'' to supplement foreign aid spending;
Whereas the term ``innovative financing mechanisms'' is a United Nations 
        euphemism for global taxes;
Whereas the ``Leading Group on Innovative Financing for Development,'' a group 
        of 63 countries, seeks to promote the implementation of ``innovative 
        financing mechanisms'';
Whereas a ``Task Force on International Financial Transactions for Development'' 
        is working within the Leading Group and with the United Nations to 
        propose and implement global tax schemes;
Whereas ``innovative financing mechanisms'' are going to be on the agenda for 
        the G8 and G20 summits in France in 2011;
Whereas new international taxation and regulatory proposals would be an affront 
        to the sovereignty of the United States;
Whereas the best manner by which to overcome the economic downturn in the United 
        States includes taking measures that would--

    (1) lower tax rates;

    (2) reduce Government spending; and

    (3) impose fewer onerous and unnecessary regulations on job creation; 
and

Whereas the worst manner by which to overcome the economic downturn in the 
        United States includes taking measures that would--

    (1) increase tax rates; and

    (2) expand government intervention, including intervention on a global 
scale: Now, therefore, be it

    Resolved, That it is the sense of the Senate that Congress should 
reject any proposal for the creation of--
            (1) ``innovative financing mechanisms'' or global taxes;
            (2) an international system of government bailouts for the 
        financial sector;
            (3) a global cap-and-trade system or other climate 
        regulations that would--
                    (A) punish businesses in the United States; and
                    (B) limit the competitiveness of the United States; 
                and
            (4) a global tax system that would violate the sovereignty 
        of the United States.
                                 <all>