Isakson: Presidential election will decide tax cuts extension

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Sen. Johnny Isakson talks as Rep. Jay Neal looks on at Tunnel Hill City Park Saturday. Matt Hamilton/The Daily Citizen

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July 29, 2012

Isakson: Presidential election will decide tax cuts extension

Charles Oliver charlesoliver@daltoncitizen.com The Dalton Daily Citizen Sun Jul 29, 2012, 06:38 AM EDT

— Democrats are “playing politics” with the extension of the Bush-era tax cuts, which are due to expire at the end of the year, says U.S. Sen. Johnny Isakson, R-Ga.

During a visit to Tunnel Hill, Isakson noted that Democrats want to extend the tax cuts only to those making less than $250,000 a year. He said that would result in a tax increase on 940,000 small businesses.

Isakson said Republicans want to extend all the tax cuts.

Isakson said the fate of those tax cuts depends on the results of the November election. He said that if former Massachusetts Gov. Mitt Romney is elected president or if Republicans gain control of the Senate, Congress will likely extend all of the tax cuts.

Isakson said the Senate would likely pass a bill that recently passed the House of Representatives to mandate an audit of the Federal Reserve if Senate Majority Leader Harry Reid, D-Nev., allows it to come to the floor. But Isakson said he doesn’t believe Reid will do that.

“Given the depth and the length of the recession we have had, the growth of the federal debt, the fact that the government is borrowing on one side and the Federal Reserve is buying on the other side, you need absolute transparency,” Isakson said.

Isakson came to Tunnel Hill to support state Rep. Jay Neal, R-LaFayette, at a campaign rally. Isakson said deepening the port of Savannah, long a top priority for Georgia’s leaders, should start in the near future. The Obama administration announced recently that it would expedite the project and complete all reviews by late November.

“The agencies that need to sign off on it have signed off. We are in the comment period now,” Isakson said.

“I think that project will get under way in the next fiscal year. That money has to be appropriated and authorized. We authorized $228 million 15 years ago when the project was authorized. The new costs are closer to $700 million, primarily because of environmental and litigation costs,” he said.

Isakson said the additional funds will likely be authorized over four to five years, not in one fiscal year.

Neal faces Chickamauga businessman Steve Tarvin in the Republican primary for state House District 2 on Tuesday. Redistricting has placed Trichum, Tunnel Hill and Westside in Whitfield County in District 2. No Democrat qualified for the position, so unless an independent qualifies, the winner of the primary will win the seat.

Isakson said he and Neal first met eight years ago when Isakson ran for the U.S. Senate and have worked together since.

“Jay and I share information, as do I and (state Sen.) Jeff Mullis, all the time about the needs of this part of the state,” Isakson said. “I depend on people like Jay Neal to keep me straight on what the needs of this part of the state are. He’s always on target, never shy about asking and always willing to do his share of the burden.”

Neal said he looks forward to serving the people of Whitfield County.

“As I knocked on doors here in Whitfield County, one thing that surprised me was how often people said, ‘Come on in and sit down. Can I get you something to drink?’” Neal said.

He said he made three promises when he first ran eight years ago: To work to improve education, to work to create a better business climate and to make Georgia a safer place. He pointed to various laws that he has introduced or sponsored, such as bills targeting meth labs and bath salts and tax reform legislation, as proof of his efforts to keep those promises.

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Isakson: Presidential election will decide tax cuts extension

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