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Economy/
Jobs/Taxes

An Economy That Works for Everyone

"America has seen enough of a handful of people growing rich at the cost of our nation descending into economic crisis."

Cory Booker

WHAT I THINK:

Corporations and the uber rich have taken advantage of a bloated and complicated tax system for too long. We must overhaul the tax system to ensure that the richest Americans and corporations such as Apple and Amazon pay their fair share of taxes. The corporate tax rate has not impeded growth in the last 50 years. However, the loopholes that corporations and the wealthy have used to mitigate their tax burdens have put more money in their pockets and less in the US Treasury. This must stop. Comprehensive tax reform must be part of the 2021 legislative agenda.

Since the Great Recession of 2009, the economy has grown slower than in other recoveries. A lot of this is due to the fact that the housing industry did not lead us out of the Great Recession. Housing is one of the only industries that provides jobs across all professions – from a laborer to an executive. Due to the financial crisis and the fear of banks to repeat the debacle of 2005- 2009, the housing industry has been slower to recover throughout the country. In our district, the housing industry has just begun to see the type of growth we saw in the early 2000s, and builders have quickly ramped up prices trying to make up for loss in profits.

Most of the economic recovery during the Obama years happened in our metropolitan areas and on the coasts, in Texas, and in parts of the Mid-West where they were involved in fracking. Many of our “fly over” states have still not really recovered, which is why we ended up with a president who promised he could “fix all their problems.”  

WHAT I’LL DO:  

 I will work with my colleagues in Congress to develop comprehensive tax reform to ensure that the uber wealthy and corporations pay their fair share of taxes. We have seen many times that trickle-down economics don’t work. It’s time to create a fair tax system that will ensure the middle class is not stuck paying more than their fair share.

The federal government needs to work with states to determine how to rebuild these areas that have not fully recovered from the Great Recession. In some cases, there can be grants to help rebuild their economies.  In others, there may be ways to retrain the residents and then move them to where the jobs are. I will work for legislation that establishes federal funding designed to assist city and county governments to develop appropriate educational programs, job training, attract new businesses, and repurpose facilities with the goal of transforming local economies. 

In addition, the country’s trade industries are suffering from an “aging workforce” and there’s a huge shortage of skilled workers entering the construction, electrician, HVAC/R, welding, logistics and other blue-collar industries. The successful growth of our region and the country depends on these industries being able to get the workers they need to build and maintain homes, buildings, roadways, airports, water distribution facilities, our electric grid and other important infrastructure. I will develop legislation that will establish training schools and apprenticeship programs in our region that will prepare the skilled workers we will need to continue building our fast-growing region, as well as provide skilled workers where needed throughout the country.