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Tammy Duckworth on Tax Reform

 

 


Divide burden fairly; let Bush tax cuts expire for wealthy

I believe the tax code should be rewritten so that the burden is divided fairly. I do not believe we can ask working and middle class families, Veterans and low-income seniors to pay more taxes. It is simply not fair that local businesses & middle-class Americans pay their share of federal income taxes, but large companies exploit corporate loopholes and pay nothing. We must let the Bush era tax breaks for the super wealthy expire and ensure that multinational conglomerate corporations, many of which paid no federal income taxes last year, pay their fair share. We need common sense solutions like the Buffett Rule, which ensures that those who make over $1 million a year pay no lower tax rate than middle-income families. This would be a critical first step towards deficit reduction while making our tax system fairer and more equitable.
Source: 2012 House campaign website, tammyduckworth.com, "Issues" , Nov 6, 2012

Supports increasing tax rates.

Duckworth supports the CC Voters Guide question on tax rates

Christian Coalition publishes a number of special voter educational materials including the Christian Coalition Voter Guides, which provide voters with critical information about where candidates stand on important faith and family issues. The Christian Coalition Voters Guide summarizes candidate stances on the following topic: "Increasing federal income tax rates"

Source: Christian Coalition Voter Guide 12-CC-q11a on Oct 31, 2012

Opposes eliminating the inheritance tax.

Duckworth opposes the CC Voters Guide question on the inheritance tax

Christian Coalition publishes a number of special voter educational materials including the Christian Coalition Voter Guides, which provide voters with critical information about where candidates stand on important faith and family issues. The Christian Coalition Voters Guide summarizes candidate stances on the following topic: "Permanent elimination of the "Death Tax""

Source: Christian Coalition Voter Guide 12-CC-q11b on Oct 31, 2012

Raising estate tax to 1990s level means $448B in new revenue.

Duckworth voted NAY Death Tax Repeal Act

Heritage Action Summary: This bill would repeal the estate and generation-skipping transfer taxes, as well as cut the top gift tax rate.

Heritage Foundation recommendation to vote YES: (4/16/2015): Collectively, these measures repeal the pernicious double tax known as the "death tax," and result in a tax cut of $269 billion over 10 years. The death tax hurts economic growth and therefore limits the ability of Americans to prosper. Repealing the death tax would generate an average of 18,000 jobs annually and increase the overall net worth of American households by $300 billion a year. The federal government should encourage, not punish, Americans who work and pay taxes their whole lives, save enough to support themselves through retirement, and retain the ability to fulfill the American Dream by passing along a better life to their children.

Secretary of Labor Robert Reich recommendation to vote YES: (robertreich.org 6/4/2015): At a time of historic economic inequality, it should be a no-brainer to raise a tax on inherited wealth for the very rich. Yet there's a move among some members of Congress to abolish it altogether. Today the estate tax reaches only the richest 2/10 of 1%, and applies only to dollars in excess of $10.86 million for married couples or $5.43 million for individuals. That means if a couple leaves to their heirs $10,860,001, they now pay the estate tax on $1. The current estate tax rate is 40%, so that would be 40 cents. Yet according to these members of Congress, that's still too much. Our democracy's Founding Fathers did not want a privileged aristocracy. Yet that's the direction we're going in. The tax on inherited wealth is one of the major bulwarks against it. That tax should be increased and strengthened.

Legislative outcome: Passed by the House 240-179-12; never came to vote in Senate.

Source: Supreme Court case 15-H1105 argued on Apr 16, 2015

Other candidates on Tax Reform: Tammy Duckworth on other issues:
IL Gubernatorial:
Ameya Pawar
Bruce Rauner
Chris Kennedy
Daniel Biss
J.B. Pritzker
Pat Quinn
IL Senatorial:
Doug Truax
Jim Oberweis
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Sharon Hansen

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Retiring in 2014 election:
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Retired as of Jan. 2013:
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