Journal Express, Knoxville, IA

Local News

October 17, 2012

Archer, Loebsack debate in Newton


Newton —

Henderson asked Loebsack about the Estate Tax. Loebsack said he would make it 35 percent and keep an exemption at $5 million. He would like to tie the tax to the value of farmland. 

Archer was disappointed that Loebsack's proposal was only good for one year. He believes Congress needs to make more long-term commitments to help provide certainty to businesses who want to plan for the future. 

"These one-year extensions must come to an end," Archer said. 

Candidates were asked about raising the gas tax. Neither candidate supports raising the federal gas tax. 

Lynch asked Loebsack about lowering business tax rates. Loebsack's reply was that things need to be made in America. People are tired of importing, he believes, and there is a lot that can be done to improve the corporate tax rate that may be a hinderance to American companies. 

While Loebsack did not give a specific figure as for what the rate should be, Archer said he would put the figure between 22-23 percent. Archer went on to say that the Democrats had the Presidency and supermajorities in the House and Senate for the first two years of Obama's term. He believes they could have addressed this issue then, but they did not. 

"What is the role of government?" was the next question posed by Henderson. 

"My job is not to create jobs," Archer said. "My job is to create the environment that encourages investment and job creation." This can be done by providing investors with certainty, Archer said. 

Borg asked him how he would work to provide certainty. Archer said it would begin with a strategic energy policy and setting benchmarks. 

Loebsack said he agreed with Archer on much of this and that the "fiscal cliff" should be avoided. 

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