Issue Position: Budget & Tax Cuts

Issue Position

Date: Jan. 1, 2014

A Responsible Budget and Fair Tax Reform

Our country is at a critical juncture. Our economy is growing, but not fast enough. Today, we face an important crossroads where America must choose between two very different paths forward, that's why I'm committed to fighting for policies that put middle and working class families first. This is also why I opposed the Republican Ryan Budget which would give massive tax breaks to millionaires and billionaires, make drastic cuts to education and infrastructure, and decimate the social safety net. With the Bush tax cuts for the wealthiest Americans set to expire at the end of this year, we have a unique opportunity to rethink our tax code and put American families first once again.

I'm committed to fighting for a budget that puts middle and working class families first by:

Fighting for the "Buffett Rule": I have cosponsored and strongly support legislation to implement the "Buffett Rule," which would ensure that those Americans fortunate enough to make over $1 million a year pay at least a 30% tax rate. Millionaires and billionaires shouldn't be able to game our tax system and pay lower rates than working families - we need to level the playing field for all Americans.

Closing corporate tax loopholes and eliminating offshore tax shelters: To grow our economy, we need to require multinational corporations to pay their taxes just like hardworking families and small businesses do. Making common sense changes to our tax code would help us cut the deficit and provide tax cuts to hardworking families. To get it done, I have cosponsored and strongly support the Stop Tax Haven Abuse Act. This bill, authored by Senator Carl Levin, will crack down on the use of offshore tax havens and secrecy jurisdictions to stop corporations and extremely wealthy Americans from not paying as much as $100 billion in taxes every year.

Investing in America: To keep our economy growing, we need to pass the American Jobs Act. This common sense legislation would invest in our educational system, infrastructure and the development of new technologies to lay the ground work for an economy built to last. Working to create new jobs and grow our economy is my top priority in Congress and I'm committed to fighting for Michigan.

Supporting the President's call for a balanced approach to deficit reduction: I agree with President Obama that we cannot simply cut our way to a balanced budget. In addition to reforming our tax code to put working families first, we must ensure that the wealthiest Americans and multinational corporations pay their fair share by closing corporate tax loopholes. We must also make sensible budgetary cuts that cut down on government waste without cutting core social safety net programs that many Americans rely on.