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Republican leaders in the U.S. Senate have pledged their support of legislation which would withhold funding from the UN and the OECD should they attempt to impose taxes at an international level. In a letter to President Bush, seven top Republican Senators stated their support of the legislation. "While global taxes are being sold as a way to generate revenue to fight diseases and for other good purposes, the United States can more effectively deal with these problems through existing agencies and in concert with other countries," said the letter. "The world will not be served by creating new international bureaucracies and financing them through global taxes and other so-called 'innovative sources' of funding." The Senators included: Majority Leader Bill Frist, Majority Whip Mitch McConnell, Republican Policy Chair Jon Kyle, Republican Conference Chair Rick Santorum, Republican Conference Vice-Chair Kay Bailey Hutchison, National Republican Senatorial Committee Chair Elizabeth Doyle and US Senator James Inhofe. Senators James Inhofe (R,OK) and Ben Nelson (D, NE) recently introduced a bi-partisan bill to stop the UN, the OECD and other international organizations from taxing US citizens and corporations. "While it has been the stated position of various US officials that the US Government is opposed to global taxes, we believe a presidential statement on this matter is urgently needed and should be made now," explained the Senators. "The US should make it clear to the G8, and the world, that the US will actively resist and oppose this ominous trend in international affairs and foreign relations." The bill, entitled the Protection Against United Nations Taxation Act of 2006, S. 3633, has 32 original co-sponsors. The bill would withhold 20% of the US subsidy to the UN, the OECD and other organizations if they develop, advocate, endorse, promote or publicize any proposal that concerns "the imposition of a tax or fee on any United States national or any income earned in the United States in order to raise revenue for the United Nations, any foreign government or any international organization." The House of Representatives passed an appropriations bill in the end of June that featured similar wording. This spending bill will make its way through Congress as implementation of next year's budget continues. It may or may not survive, and only pertains to the budget year. "Fortunately, the House of Representatives...passed my language in the 2007 Foreign Operations bill," said Congressman Ron Paul (R,TX). "But that only protects us for another year. Given the stated goals of the UN, it would be foolish to believe the idea of a global tax will go away." Martin Lukac represents http://www.RateEmpire.com and http://www.1AmericanFinancial.com, a finance web-company specializing in real estate and mortgage rates. We specialize in daily updates, mortgage news, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies!
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