Press Advisory

Food Stamp Recipients Give Senator Smith a Turkey for Thanksgiving

Call For His Opposition to House Stimulus Package

Call It a Turkey of a Bill

Contact: Rose Spears 503-282-6588

Where: Senator Gordon Smith's Portland Office

121 SW Salmon, Suite 1250, Portland, Oregon

When: November 21, 2001

10:00 AM

 

Food Stamp recipients gave Oregon Senator Gordon Smith a turkey for his Thanksgiving dinner and called for him to oppose the House Stimulus Plan that would give $212 billion in tax breaks to America's richest corporations. "It's a turkey of a bill," said Rose Spears, President of the Portland Chapter of Oregon Action, "and Congress is taking advantage of the September 11th tragedy in order to payoff their campaign contributors. Everyone else is asked to sacrifice to fight terrorism, but corporate America isn't sacrificing. It's cracking open the Treasury and grabbing everything in sight."

Oregon Action is opposed to the House Stimulus Package and to the Senate Republican Stimulus Package, both of which give reckless tax breaks to business and the wealthy and offer little to the Americans most affected by the 9/11 tragedy and the recession. 80% of the tax cuts would go to the wealthiest 10% of Americans while three quarters of Americans would get no tax benefit at all. While over 970,000 Americans have been laid off this year, corporations are not only refusing to sacrifice, they are raiding the Treasury in the most shameless war-profiteering money grab ever seen in American history.

Blanche Gardner, another Oregon Action activist said, "This bill has nothing to do with economic stimulus. A real stimulus bill would focus on expanding unemployment benefits and covering the health insurance premiums of the hundreds of thousands of laid-off workers. Every dollar invested in unemployment insurance reaps $2.15 in economic benefits. But Congress is more interested in rewarding contributors than in stimulating the economy. Senator Smith needs to vote against this bill and work for real economic stimulus."

The bill also contains a provision that rewards companies for not investing in America. US banks and lenders will be able to shift their profits to off-shore subsidiaries to avoid paying taxes, so long as they don't invest those profits in America. Tom Morgan, an Oregon Action member, said, "This is an anti-American, anti-stimulus bill. It's stupid. Congress is giving tax breaks so long as companies promise not to invest in America. Anyone who votes for that is a real turkey. It would be a real shame if Senator Smith voted for a bill that rewards people for NOT investing in America."

Oregon Action is a statewide grassroots citizen organization with 35,000 supporters and 7,000 members statewide. It is affiliated with the Northwest Federation of Community Organizations and US Action. More information about Oregon Action and the stimulus package is available online at www.oregonaction.org.

###

 

Campaign Contributions by Top Beneficiaries of

Corporate Alternative Minimum Tax Repeal, 1992-2002 Election Cycles

Company

Democrats

Republicans

Total

ATM Rebate Under House Tax Bill

Chevron Texaco Corp

1,828,877

5,146,425

6,984,355

572,000,000

General Electric

2,783,517

3,406,784

6,213,841

671,000,000

Enron Corp

1,467,057

4.188,736

5,691,893

254,000,000

American Airlines

2,197,990

2,408,807

4,616,047

184,000,000

General Motors

1,610,520

2,931,931

4,576,723

833,000,000

Ford Motor Co

1,066,989

2,345,314

3,439,505

1,000,000,000

DaimlerChrysler

873,905

1,830,411

2,990,846

600,000,000

United Airlines

1,410,743

1,436,656

2,864,588

271,000,000

Texas Utilities Co. (TXU)

626,770

1,176,449

1,803,219

608,000,000

Phillips Petroleum

260,616

1,136,038

1,398,541

241,000,000

Kmart Corp

84,350

1,221,959

1,430,009

102,000,000

CMS Energy Corp

484,340

693,998

1,178,338

136,000,000

Westvaco

117,750

822,375

942,625

112,000,000

IBM Corp

452,259

399,027

909,492

1,424,000,000

IMC Global Inc

233,500

312,281

546,781

155,000,000

Comdisco, Inc

23,350

72,850

96,200

144,000,000

Totals

$15,522,533

$29,530,041

$45,682,940

$7,407,000,000

Data from Citizens for Tax Justice (www.ctj.org)