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North Coast Congressman Mike Thompson (D-Napa Valley) teamed with Congressman Tom Reynolds (R-NY) this week to introduce bipartisan legislation that would allow for greater tax deductions for charitable donations of art and collectables.
The Art and Collectibles Capital Gains Tax Treatment Parity Act (H.R. 2786), will allow artists to claim a fair market tax deduction for charitable donations of their work. Under current law artists, authors, musicians and scholars may only deduct the cost of materials used to create their works, not the fair market value of the product.
Two Republicans and two Democrats joined forces today in the fight to reduce electronic waste (e-waste). Reps. Mike Thompson (D-CA), Randy "Duke" Cunningham (R-CA), Louise Slaughter (D-NY) and Mary Bono (R-CA) announced the formation of the Congressional E-Waste Working Group at a news conference this morning.
The Social Security and Medicare Trustees released a report today showing that Social Security will be able to pay full benefits through 2041 and at least 74 percent of benefits thereafter. In response, Congressman Mike Thompson (D-Napa Valley) called on the President to abandon his risky Social Security privatization plans.
North Coast Congressman Mike Thompson sent a letter to Commerce Secretary Carlos Gutierrez this afternoon urging him to declare a fisheries disaster in California and Oregon. This year's abridged salmon season will have a drastic economic impact on coastal communities throughout the two states. In order for individuals and businesses to apply for federal disaster assistance the Secretary of Commerce must declare a fishery disaster.
The text of the letter can be found below:
Congressman Mike Thompson (D-Napa Valley) today placed a debt clock in front of his Capitol office in an effort to call attention to our nation's mounting national debt. The clock, which will be updated daily, currently reads $7.671 trillion in national debt, which equals a $27,000 share for each American.
The Social Security and Medicare Trustees released a report today showing that Social Security will be able to pay full benefits through 2041 and at least 74 percent of benefits thereafter. In response, Congressman Mike Thompson (D-Napa Valley) called on the President to abandon his risky Social Security privatization plans.
Congressman Mike Thompson (D-Napa Valley) voted against the 2006 Budget Resolution earlier today citing the budget's lack of fiscal responsibility as the reason for his vote.
“This Budget does not take responsible steps toward reducing the budget deficit and paying down our national debt,” Thompson said. “I voted against it because the Congress and the Administration must take responsibility for the financial future of our country.”
The House of Representatives yesterday approved a transportation bill that provides $12 million in loan forgiveness for the North Coast Railroad Authority (NCRA). North Coast Congressman Mike Thompson was able to secure this funding in H.R. 3 the Transportation Equity Act, the bill that determines the direction of federal transportation funding for the next six years.
Two House members from opposite parties have joined together to call for Congressional hearings on the growing national issue of electronic waste.