Taxes

America’s tax system is written to favor large corporations and the rich, leaving the rest of us to foot the bill. While a few people accumulate personal fortunes that rival the annual GDP of nations, millions of Americans are unable to afford healthcare, education, and housing. The stark inequality in income, wealth, and societal outcomes is immoral and threatens the civic bonds that tie our nation together. It also reflects a massive policy failure.

Tax reform is crucial, but President Trump’s “reform” was a giveaway to the wealthiest and an assault on blue states. It ballooned our deficit while delivering nothing to the working families that could most benefit from tax relief—it was a scam. 

Here in NY-17, Trump’s Tax Scam, and the cap on state and local tax (SALT) deductions, has been nothing but a burden. The SALT deduction cap threatens our community because we rely on these deductions to provide the public services that attract people to our district and to reduce an already nation-leading tax burden. When so many in our community struggle to make ends meet, paying thousands more in taxes every year isn’t inconvenient — it’s devastating. 

Our federal government must raise significantly more money from the wealthiest people, and we must hold the most profitable companies accountable. Large corporations and the richest among us take advantage of complex accounting maneuvers and blatantly favorable tax law, such as the reduced rate on capital gains, as well as off-shore tax havens, to pay far less than their fair share. Companies with billions in profit cannot be allowed to pay zero dollars in federal taxes, as Amazon has repeatedly in the past few years. 

We must reform our taxation system to ensure that the wealthiest people and corporations pay significantly more, and we must reduce taxes on regular hard-working Americans. 

In Congress, I will fight to: 

  • Create a bipartisan coalition to permanently repeal the SALT deduction caps

  • Reduce the income tax for middle and working-class earnings 

  • End subsidies for fossil fuel companies, and institute a tax on greenhouse gases to make corporations pay for emissions—and help spur the transition to renewable energy sources

  • Raise taxes significantly on the highest earners by instituting new income tax brackets for incomes at least above $1M, $5M, and $10M annually

  • Reform tax incentives to push businesses to invest in America and reverse offshoring of jobs and manufacturing 

  • Raise the capital gains tax, institute a tax on financial transactions, and reform the estate tax to ensure that we are more effectively taxing those who are most able to pay

  • Close loopholes, tax credits, and other subsidies that allow the largest corporations to avoid paying their fair share 

< Go Back