Tax Reform That Works for Working Families

The 2017 Tax Cuts and Jobs Act was a massive giveaway to corporations and billionaires at the expense of working families. It slashed the corporate tax rate, created loopholes that incentivize outsourcing American jobs, and added nearly $2 trillion to the national debt without delivering meaningful benefits to the middle class. While the wealthiest Americans saw their profits soar, working families were left behind. We need a tax system that prioritizes fairness, rewards hard work, and strengthens our economy—not one that fuels inequality.

I will fight for tax cuts targeted at working families to help ease financial burdens. This includes expanding credits for childcare, education costs, first-time homebuyers, and retirement savings. For example, increasing the Child Tax Credit and making it fully refundable would provide direct relief to families raising children, while expanded education credits would make college or job training more affordable. These measures will give families more breathing room and help them invest in their futures.

To fund these reforms without increasing deficits or cutting essential programs like Social Security and Medicare, we need to ensure billionaires and large corporations pay their fair share. Right now, billionaires often pay lower effective tax rates than middle-class families because of loopholes and tax avoidance schemes. I support implementing a wealth tax on extreme fortunes over $50 million and closing loopholes like the carried interest deduction that allows hedge fund managers to avoid fair taxation.

Our tax code also encourages companies to outsource jobs by taxing foreign profits at lower rates than domestic earnings. I will fight to eliminate these outsourcing incentives so multinational corporations pay the same tax rate on all profits. Instead of rewarding companies that ship jobs overseas, we should reward businesses that invest in American workers with targeted job creation credits and incentives for expanding operations here at home.

A fair tax system is about more than numbers—it’s about values. By providing tax relief for middle-class families, closing loopholes for billionaires, eliminating outsourcing incentives, and rewarding companies that invest in America, we can build an economy that works for everyone—not just those at the top.