GOP Tax Plan: More Of The Same; Corporations and Wealthy Continue To Get A Free Pass
FOR IMMEDIATE RELEASE:
Wednesday, February 26th, 2014
Contact: Jacob Swenson | 312.316.3973 | Jacob@npa-us.org
GOP Tax Plan:
More Of The Same; Corporations and Wealthy Continue To Get A Free Pass
Today, Representative Dave Camp proposed a “revenue-neutral” overhaul of the U.S. tax code that would lower the top tax rate for corporations and individuals. The following is a statement from George Goehl, executive director of National People’s Action:
“At a time when Americans are frustrated with growing economic inequality, Representative Camp’s proposal to lower rates, while failing to generate additional revenue, takes us in exactly the wrong direction.
The proposal would further erode the share of revenue corporations and the wealthy contribute, despite the fact that we’re already collecting less and less from those who can most afford it.
One thing the proposal does right is advocate for a tax on the financial sector and surtax on the wealthy, demonstrating clear bi-partisan support for these policies ideas. But, Representative Camp’s proposal couples that with a cut in tax rates, which defeats the purpose.
Instead of doubling down on the failed policies of past decades, lawmakers must require big corporations and the wealthy to contribute a greater share of the funds needed to bolster our government’s fiscal health. Only then will we be able to adequately fund programs that benefit all Americans and build the framework that will move our nation forward in the years ahead.”