[Congressional Record Volume 147, Number 43 (Wednesday, March 28, 2001)]
[Senate]
[Pages S3048-S3049]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                          CAMPAIGN TAX CREDIT

  Mr. WARNER. Mr. President, as chairman of the Rules Committee during 
the 105th Congress, I presided over numerous hearings on campaign 
finance reform and I filed two comprehensive bills on this subject. 
And,

[[Page S3049]]

just like my colleagues over the years in the course of my four Senate 
races, I have gained a firsthand familiarity with campaign finance 
issues. The Senate can take pride in this debate, while issues 
regarding the first amendment have been center stage, it seems to me 
there is another fundamental issue we should consider.
  One of our aims during this great debate should be to encourage 
greater citizen participation in elections. Citizens are the backbone 
of our democracy and should be given encouragement to participate in 
every way in the elective process.
  What are the means by which we can encourage a greater role for the 
average citizen? I believe one method is a $100 tax credit for 
contributions made to House and Senate candidates. I propose this tax 
credit be available only to single persons with an adjusted gross 
income at or below $50,000. For married couples, in order to avoid 
exacting a ``marriage penalty,'' a married couple filing jointly could 
claim a total of $200 in tax credits.
  For various reasons, the wealthy are already involved in politics, 
but there has been a declining interest in campaigns for those at the 
other end of the spectrum. This credit would encourage broader 
participation by moderate and lower income voters to balance the 
greater ability of special interests to participate in the process.
  There is precedent for such a tax credit. Until 1986, there was a $50 
tax credit for contributions to political campaigns. According to IRS 
data, when Congress repealed the political contributions tax credit, 
``a significant percentage of persons claiming the credit have 
sufficiently high incomes to make contributions in after tax dollars, 
without the benefit of the tax credit.''
  My proposal would contrast with the previous tax credit because it 
would cap the eligible income levels to ensure it is not exclusively 
the wealthy who take advantage of it.
  I think this is an issue that should be addressed in this campaign 
finance bill. However, because of the constitutional prerogatives of 
the House of Representatives, I merely bring this issue to your 
attention now, with the expectation I will raise it again in the 
context of a reconciliation bill that may be forthcoming.
  Ms. CANTWELL. Mr. President, during yesterday's campaign finance 
debate, I referred to a number of businesses that support a campaign 
finance reform proposal. I meant to say that top executives or chief 
executive officers of those businesses support the reform proposal.

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