Reed Applauds Rejection of Value-Added Tax; Remains Concerned That 29th District Has No Voice on Tax Issues

FOR IMMEDIATE RELEASE

Congressional candidate Tom Reed this morning applauded recent comments from House Ways and
Means Chairman Sander Levin (D-MI) that considering a VAT (value-added tax) was “not on the
agenda” for the 2011 revision of the tax code.

The VAT is a form of national sales tax applied at every stage of production. White House advisors have
suggested that a VAT should be considered in order to close the deficit. In Europe the typical value-
added tax is as high as twenty percent. The Senate also recently passed a resolution opposing a VAT.

“For once, we have some good news out of Congress,” Reed observed. “While I am very concerned
about that higher taxes that will be implemented to pay for the healthcare plan and other spending
increases passed this year, I am pleased that the value-added tax will not be part of the tax code re-write. Western New York cannot afford the job crushing cost of a VAT. Taxes paid by businesses add to the
cost of producing or selling a product or service – which hurts consuming families and workers.”

“Job creation must be encouraged through incentives and benefits for employers, as well as leveling the
playing field for American businesses,” Reed said. “New tax schemes such as the value-added tax are job
killers.”

The 29th Congressional District continues to be without representation and without any voice in the
discussion on issues such as revising the tax code until the Democrat Party leadership allows our 660,000
voters to have a special election to fill our vacant seat.

“Perhaps someday the idea of democracy will be respected and we’ll have an election so someone can
represent this district on matters such as rewriting the tax code,” Reed said.

#####
 

###