Collins introduces tax rebate bill

Collins introduces

tax rebate bill

U.S. Rep. Mac

Collins introduced tax relief legislation Tuesday which includes a tax

5 percent rebate designed to jumpstart the nation's stalled economy.

"If a

patient is sick today, you don't wait a year before giving them medicine,"

Collins said as he introduced the Emergency Economic Revitalization Act.

"Every American who paid taxes in 1999 would get a 5 percent rebate

under my legislation. They would get this refund this year, when it is

needed."

Collins, a

Republican representing Fayette and several other west Georgia counties,

argued that in the past Congress has frequently provided emergency funds

for specific groups suffering economic loss.

"Following

that precedent, it is time that we provide emergency relief for those

who bear the brunt of the current ailing economy," he said. "They

are the same group who, because of this emergency assistance, will have

the greatest ability to provide an economic rebound - the taxpayers."

Current tax

proposals that phase relief in over two, five or ten years won't help

today's economic slowdown, while a rebate would provide immediate help,

Collins said

Collins said

President George W. Bush has taken the lead in returning tax overpayments

to taxpayers with his $1.62 trillion tax relief plan, but noted that the

plan was drawn up when the U.S. economy was stronger than it is today.

"We are

at the beginning of an economic emergency," Collins said. "While

the tax measures currently moving through Congress provide limited tax

relief for future years, they are simply not enough to make a real economic

difference today.

"My legislation

will provide relief this year, yet it will not breach the $1.6 trillion

threshold the president has established for fiscal year 2002 and beyond,"

he said.