Email From Andy Harris On 1% Tax On Bank Deposits

November 8, 2011

Thank you for contacting me in opposition of H.R. 1125, the Debt Free America Act.  I share your opposition to government imposed financial fees which, in reality, are merely a form of increased taxation.

As you may know, H.R. 1125 was introduced on February 23, 2010 and referred to the Committees on Ways and Means, Budget, Rules, and Appropriations.  The Debt Free America Act would impose a 1% fee on all transactions including check, cash, credit card, and transfer of stocks, bonds, or other financial instruments. During this time when American families and individuals are struggling to make ends meet, imposing this type of fee would be harmful to the economy and an undue burden on our citizens.  Fortunately, this bill was not acted upon in the previous Congress (H.R. 4646, 11th Congress) and I do not expect it to garner much support in this term.  I will continue to fight for lower taxes and less government intrusion in our free market economy.

Please know that I will keep your views in mind as I go forward and feel free to contact me on any issue of importance to you or your family in the future.

Sincerely,

Andy Harris, M.D.
Member of Congress