As 2025 Tax Super Bowl approaches, progressives urge companies
WASHINGTON — Dozens of progressive organizations from across the country gathered in the nation’s capital on Wednesday to defend “tax justice” ahead of Congress’s monumental 2025 task of resetting the tax code.
State and national advocates, led by a coalition called Fair Share America, are urging lawmakers to raise the corporate tax rate and ensure those making more than $400,000 a year “pay their fair share.”
Organizers from 20 states fanned out on Capitol Hill, meeting individually and speaking publicly with lawmakers and testifying before senators.
Kristen Crowell, the coalition’s executive director, said advocates traveled to Washington to “make sure our representatives know we know exactly how this tax scam is happening at the local level in our communities. “
“We’re organizing, we’re building a multiracial, multisector organization that has real people power on the ground, so if we don’t hold them accountable,” Crowell said at a major press conference. They just can’t make a deal behind closed doors.
Colorado Sen. Michael Bennett told the crowd they were “the only antidote to the special interests that came to the Capitol.”
“This is the beginning of our long fight for tax fairness in this country, and we’re glad you’re here,” said Bennett, the top Democrat on the Senate Finance Committee.
61 nursing teams
Rep. Lloyd Doggett of Texas, the ranking Democrat on the House Tax Ways and Means Committee, co-hosted the news conference and told the crowd to get ready for the “Tax Super Bowl.”
Sixty-one care advocacy groups included in the visit urged using tax revenue raised by raising taxes on the wealthy to fund child care and care for the elderly and disabled.
Ai-Jen Poo, one of the leaders of the organization and president of the National Domestic Workers Alliance testify The Senate Banking, Housing and Urban Affairs Committee’s Economic Policy Subcommittee will meet Wednesday afternoon.
“By requiring the wealthiest individuals and wealthy corporations to pay their fair share, lawmakers can use the tax code to support strong public investments, such as guaranteed access to early education (including child care and preschool), universal paid families and sick leave, strong aging and disability care, and good work by all caregivers,” the Care Can’t Wait Alliance wrote in a report letter Report to congressional leadership prior to subcommittee hearings.
Trump’s tax promises
The supporters’ coordinated visit comes as Vice President Kamala Harris and former President Donald Trump made sweeping tax promises on the campaign trail ahead of the November presidential election.
Trump ahead of Wednesday night rally in Long Island, New York declare On his social media platform, Truth Social, he said he would eliminate the $10,000 cap on the state and local tax deduction, also known as SALT. The deduction is part of the 2017 tax law signed by Trump and is set to expire in 2025.
“What exactly do you have to lose? Vote for Trump! I will turn things around, take back SALT, lower taxes, etc.,” he posted on Tuesday.
The full SALT deduction is more valuable for higher-income taxpayers, 91% of whom lived in California, New York, New Jersey, Illinois, Texas, before the 2017 cap, according to one survey states and pennsylvania. analyze By the Tax Foundation.
Pennsylvania is a key swing state in the presidential race, and several closely contested U.S. House races in New York could help determine which party will gain control of the chamber.
Before changing his platform, Trump had been working to fully extend the 2017 tax law beyond its expiration date in 2025 and further permanently reduce the corporate tax rate to 15%.
analyze from Some economist The massive extension is estimated to increase the national deficit by $2 trillion over the next decade to about $6 trillion.
Trump also promised to eliminate tips, Social Security benefits and overtime taxes.
Asked about the impact of Trump’s tax proposals on the national deficit, Republican Sen. John Thune of South Dakota told reporters on Wednesday, “We’re starting to have some of these conversations, and what’s the impact of some of these changes? So, You know, what’s the trade-off that happens as a result?
Harris’ tax pledge
Harris’ “opportunity economy” platform includes a plan to permanently expand the pandemic-era child tax credit and provide an additional $6,000 tax credit for new parents. Like President Joe Biden’s budget proposal, Harris has vowed not to raise taxes on anyone making less than $400,000 a year.
when Speaking Speaking at the National Association of Black Journalists on Tuesday, Harris reiterated an earlier pledge by the Biden administration to limit child care costs to 7% of family income.
“If you think about the benefits to the overall economy, you’ll see that focusing on things like affordable child care, affordable home health care and expanding the child tax credit strengthens our economy,” Harris told the association meeting. . discuss In Philadelphia.
On Wednesday, the National Women’s Law Center Action Fund, one of the interest groups on Capitol Hill, said Harris’ plan would be “transformative” for families.
Harris also pledged to increase the corporate tax rate to 28% from the current 21%; set the long-term capital gains tax rate at 28%; provide a $25,000 tax credit for first-time homebuyers; and give new small businesses $50,000 toward start-up costs. relief. She also embraced a pledge to end taxes on tips.
Organizers at the Capitol on Wednesday represent Arizona, Colorado, Connecticut, Iowa, Maine, Maryland, Michigan, Minnesota, Montana, Nebraska, New Hampshire, Nevada, New Jersey, New York, Pennsylvania, Vermont, Virginia, West Virginia, Washington, and Wisconsin.
U.S. Newsroom reporter Jennifer Shute contributed to this report.
