Why Does Joe Sestak Oppose Pennsylvania Family Farms?

By TOOMEY FOR SENATE

Allentown – As Congressman Joe Sestak heads to the Penn Ag Democratic barbeque today, U.S. Senate candidate and former small business owner Pat Toomey asked: Why does Congressman Sestak support policies that will hurt Pennsylvania family farmers?

Sestak co-sponsored and voted for an energy tax that will be devastating to Pennsylvania family farms (RC #477, 06/26/09):

Farming is an energy-intensive industry with its fuel, chemical, electricity and natural gas-derived fertilizer costs. It is estimated that the cap-and-trade energy tax would cause net farm income to drop $8 billion in 2012, $25 billion in 2024, and over $50 billion in 2035. These are decreases of 28%, 60% and 94%, respectively. The average net income lost over the 2010-2035 timeline is $23 billion – a 57% decrease from a world without the cap-and-trade energy tax. (Heritage Foundation “Cap and Trade Sold under False Pretenses,” 07/08/09)
Economists from the American Farm Bureau Federation estimate that under the most optimistic scenario, the legislation will cost farmers billions of dollars. (Pennsylvania Farm Bureau)
Sestak voted against making the elimination of the Death Tax permanent (RC #377, 05/17/07). Because of his vote, the Death Tax will return to a 55% rate in January 2011.

This tax is particularly hard on business owners, farmers, and owners of real estate. Because these entrepreneurs often only pay themselves a modest salary while most of their wealth is actually the value of the building, farm, or equipment, their families are faced with a dilemma when it comes time to pay a tax that can approach 55% of the value of the building or farm or equipment. Sometimes the only way to come up with that much cash is to sell the very assets that provide the salaries of the owners, putting them out of business in the process, and putting people who work for them out of a job.
“Congressman Sestak’s support for a massive energy tax and the Death Tax will destroy jobs across Pennsylvania and will hit Pennsylvania family farms especially hard,” Toomey Communications Director Nachama Soloveichik said. “Congressman Sestak doesn’t seem to understand that higher taxes and more government is a recipe for job destruction. As more and more people learn about Congressman Sestak’s more government – less jobs agenda, they are rejecting his extreme liberal policies and rallying to Pat Toomey’s vision for less government and more jobs.”

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