An Economy That Works for Everyone
An Unfair Tax Burden
In 2018, our bloated and overly complicated tax system allowed sixty Fortune 500 companies to completely avoid paying any taxes at all. Companies like Amazon, Netflix, Chevron, Delta Airlines, IBM, Halliburton, and General Motors – all contributed absolutely nothing to the United States Treasury. These are some of the most profitable companies in the world, but unlike the rest of us, they paid nothing in Federal taxes.
To add insult to injury, the former President’s tax cuts have been shown to have solely benefited the wealthy. The average citizen did not see any meaningful benefit, and many were adversely impacted by the changes to the tax code. While the rich got a free windfall, everyone else got stuck with the check, which is why I believe that comprehensive tax reform must be part of the 2021 legislative agenda.
A Stagnant Recovery & The Impact of the COVID-19 Pandemic
Since the Great Recession of 2009, our economy has recovered more slowly than after previous recessions. And while profits for corporations are up and unemployment is down, wages have remained completely flat. COVID-19 has wreaked havoc on the economy and many of those who were barely hanging on have now fallen into poverty. The K-shaped economy, with those at the top doing very well, has further shown us how unfair economy is. With consumer prices rising due to reckless trade wars and the effect of the pandemic on supply chains, many of us are feeling the financial squeeze, especially those living paycheck-to- paycheck. It may be blue skies and sunny at the top of the “K”, but for the rest of us things are still gloomy and uncertain, and our dollars don’t seem to go as far as they used to.
What I Will Do
Trickle-down economics never worked, and it’s left us with a prosperity drought created by the false promise that we would all share in the success of the wealthy. Meanwhile, the middle class has been forced to shoulder the financial burden of running the country to the point of unsustainability. I am going work with my colleagues in Congress to develop tax reform that makes sure the burden of running the country is proportionately balanced across all income levels.
Our region is suffering from a shortage of skilled workers for construction, electrician, HVAC/R, welding, logistics and other blue-collar industries. Our continued growth depends on their ability to find the workers needed to build and maintain homes, buildings, roadways, airports, water distribution facilities, the electric grid and other important infrastructure we depend on. I will develop legislation that establishes training schools and apprenticeship programs that will allow members of our communities to advance their skills and fill these needed roles.