GOP Rep. Long: Don’t Import Cyprus Bank-Tax Plan to America
Glenn J. Kalinoski
Rep. Billy Long has a message for his fellow lawmakers: Don’t even think about considering a tax on Americans’ bank accounts as was proposed in Cyprus.
The Missouri Republican introduced a House resolution calling on Congress to refrain from considering any legislative proposal that would tax the private savings or retirement accounts of Americans.
“You’ve got your money in the bank for your kid’s education, make your car payments and one day you wake up, the government decides to tax it, and we put the resolution on the floor so it doesn’t happen here,” Long said Wednesday on Fox News Channel’s “On the Record With Greta Van Susteren. “If you’re going to tax me 10 percent, I’ll take my money out. Trust me.”
Long went on to say that he asked 30 legislators to co-sign it, with 23 signing and seven requesting information. Van Susteren asked if any Democrats signed. His response: not yet.
“I expect to have a lot of bipartisan support before it’s over,” Long said.