In 1981 and 2001, Domenici voted to give windfall tax-dollars to the wealthiest 1% of Americans. In 1981, Domenici voted to reduce the federal inheritance tax by 20%. When did you last hear of workers receiving a 20% salary increase in a year?

In May 2001, Domenici voted to repeal federal inheritance taxes altogether. Few people realize the pre-2001 federal inheritance law allowed $2 million of inherited wealth to pass TAX FREE between generations.

DOMENICI'S MAY 2001 VOTE REPEALED THIS TAX TO PROTECT THE WEALTHIEST ONE PERCENT OF AMERICANS. THEY NOW PAY NO TAX ON ANY AMOUNT OF INHERITED WEALTH TRANSFERRED FROM ONE GENERATION TO ANOTHER.

• As Chairman of the Senate Budget Committee, Domenici engineered the Republican agenda to give this windfall-tax-cut back to the wealthy and big business, hurting our State.
• Where did the money come from to fund these huge and irresponsible tax cuts? Consider.....
• Domenici sponsored a Senate Resolution to cut funding of federal programs and funding to New Mexico from 8% to 4% starting in 2001!
• New Mexico has the 3rd greatest disparity between wealthy and poor in our Nation! This disparity is destructive to our social fiber.

In early 2001 during the debate on passage of these windfall-tax-cuts, economists warned of an economic downturn for our economy. With a slowing economy, it was irresponsible for Domenici and Republicans to vote for tax cuts for the wealthy and corporations.

LOBATO says no tax cuts until Congress stops using Social Security trust funds to operate the federal government and until Congress repays money borrowed from Social Security. Lobato says our State's economic and social situation demand fair taxation, not irresponsible repeal of federal tax laws. The last 50 years have provided the longest and best economic growth for the Nation. NEW MEXICO HAS NOT SHARED IN THIS ECONOMIC BOOM AND WE MUST REVERSE THIS TREND.

Over the last 20 years, workers' wages have not kept pace with corporate profits and with the increased value of ownership of corporate stocks. The workers who have produced the goods and services to make the corporate profit and increased value in stock continue to receive low wages and continue to work without health insurance and pensions.