What: All Issues : Fair Taxation : Corporate Tax Breaks, General : S. 1054. Tax Reductions/Procedural Vote Against an Amendment Designed to Prevent Companies From Collecting Life Insurance Policies When Their Employees Die.
 Who: All Members
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S. 1054. Tax Reductions/Procedural Vote Against an Amendment Designed to Prevent Companies From Collecting Life Insurance Policies When Their Employees Die.
senate Roll Call 175     May 15, 2003
Y = Conservative
N = Progressive
Winning Side:
Conservative

For years, companies have been able to exploit a loophole in the tax code which allows them to buy life insurance policies on janitors, secretaries, and other low-income working individuals without their knowledge. When those employees die, the company can then receive the value of the life insurance policy; the workers' families, however, do not receive any payment. During debate on legislation to cut taxes, Senator John Edwards (D-NC) proposed an amendment which would have deleted this loophole from the tax code. Progressives supported Edward's amendment because, in their view, companies should not be able to cash in when their employees die. Senator Jon Kyl (R-AZ) contended that the Edwards measure was not relevant to the tax cut measure under consideration and raised a point of order against the amendment. Debate on budget-related legislation-which, according to recent rulings by the Senate parliamentarian, includes tax cut legislation-is governed by the reconciliation process. Reconciliation rules allow Senators to raise points of order against amendments by claiming that they are not relevant to the pending legislation in order to defeat the amendment. To overcome a point of order, a sixty-vote majority is required in support of the amendment. The Edwards amendment failed to attract the necessary sixty votes and was rejected 37-63.

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