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Jared Polis on Corporations
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Remove deductions exploited by corporations at our expense
Our tax code gives too much power to the special interests who can afford expensive lobbyists, while forcing ordinary families to pay more. As legislators, I know that many of you find these tax giveaways offensive.
Unlike budget expenditures, which you vote on every year, these tax expenditures are on autopilot, some since the 1930s. We need a tax code that reflects today's realities rather than yesterday's distortions.
Let people keep more of their hard-earned money rather than give it away to special interests.The Legislature and the Auditor have gotten off to a good start by closely examining which deductions are benefiting our economy, and
which are being exploited by corporations at Coloradans' expense. I want to work with you to close these loopholes and pass the savings on to families by lowering the income tax rate.
Source: 2019 State of the State address to Colorado legislature
, Jan 10, 2019
Expand lending caps for credit unions to small business.
Polis co-sponsored Small Business Lending Enhancement Act
Congressional Summary:
- Amends the Federal Credit Union Act to limit loans outstanding to either 1.75 times the net worth, or 12.25% of the total assets of the credit union.
- Authorizes insured credit unions to make business loans up to 27.5 % of the total assets of the credit union, if the credit union meets specified safety and soundness criteria.
- Directs the development of a tiered approval process, including lending standards, under which an insured credit union gradually increases the amount of member business lending in a manner that is consistent with safe and sound operations.
Supporter`s Comments: (by CUNA, a pro-credit union organization)
America`s small businesses are the engine of growth of our nation`s economy. The effects of the financial crisis of the past few years have spread to all types of lending, resulting in a reduction in the availability
of business credit. At a time when banks are withdrawing credit from America`s small businesses, credit unions have actually been expanding credit to small businesses, but with more credit unions approaching the cap, this growth is threatened. Congress should enact legislation which increases the credit union member business lending cap from 12.25% of assets to 27.5% for well-capitalized credit unions
Opponent`s Comments: (by the Independent Community Banks of America, Nov. 15, 2012)
The tax-subsidized credit union industry is pressing for doubling the statutory cap Congress placed on member business loans. Shifting assets from tax-paying banks to tax-exempt credit unions would reduce tax revenue to the government; the CBO estimates the revenue impact at $354 million over 10 years. We believe that banks are currently meeting the needs of credit-worthy businesses, as substantiated by numerous business surveys.
Source: HR1418 /S2231 12-S2231 on Mar 22, 2012
Rated 100% by UFCW, indicating an anti-management/pro-labor record.
Polis scores 100% by UFCW on labor-management issues
The United Food and Commercial Workers International Union (UFCW) is North America`s Neighborhood Union--1.3 million members with UFCW locals in all 50 states, Puerto Rico and Canada. Our members work in supermarkets, drug stores, retail stores, meatpacking and meat processing plants, food processing plants, and manufacturing workers who make everything from fertilizer to shoes. We number over 60,000 strong with 25,000 workers in chemical production and 20,000 who work in garment and textile industries.
The UFCW House scorecard is based on these key votes: - (+) Extension of Trade Adjustment Assistance (TAA)
- (+) H. Am. 877 Bishop Am. to HR 3094, penalties for lawsuits against unionization
- (+) H. Am. 880 Jackson-Lee Am. to HR 3094, preventing delays in union votes
- (-) Middle Class Tax Relief and Job Creation Act, freezing public salaries
- (-) Regulation from the Executive in Need of Scrutiny (REINS) Act, for less corporate regulation
- (-) Repealing the Job-Killing Health Care Law Act
- (-) Workforce Democracy and Fairness Act, letting CEOs fire union organizers
Source: UFCW website 12-UFCW-H on May 2, 2012
Deregulating banks encourages discriminatory practices.
Polis voted NAY Banking Bill
Congressional Summary:
Economic Growth, Regulatory Relief, and Consumer Protection Act- TITLE I--IMPROVING CONSUMER ACCESS TO MORTGAGE CREDIT: [for small banks,] requirements are waived if a loan is originated by and retained by the institution
- TITLE II--REGULATORY RELIEF AND PROTECTING CONSUMER ACCESS TO CREDIT: [deregulate] reciprocal deposits [if they] do not exceed 20% of its total liabilities.
- TITLE III--PROTECTIONS FOR VETERANS, CONSUMERS, AND HOMEOWNERS
- TITLE IV--TAILORING REGULATIONS FOR CERTAIN BANK HOLDING COMPANIES
- TITLE V--ENCOURAGING CAPITAL FORMATION
- TITLE VI--PROTECTIONS FOR STUDENT BORROWERS
Supporting press release from Rep. Tom Emmer (R-MN-6): This legislation will foster economic growth by providing relief to Main Street, tailor regulations for better efficacy, and most importantly it will empower individual Americans and give them more opportunity.
Opposing statement on ProPublica.org from Rep. Gregory Meeks (D-NY-5): The bill includes many provisions I support: minority-owned banks and credit unions in underserved communities have legitimate regulatory burden concerns. Unfortunately, exempting mortgage disclosures enacted to detect discriminatory practices will only assist the Trump Administration in its overall effort to curtail important civil rights regulations. I simply cannot vote for any proposal that would help this Administration chip away at laws that I and my colleagues worked so hard to enact and preserve.
Legislative outcome: Passed House 258-159-10 on May 22, 2018(Roll call 216); Passed Senate 67-31-2 on March 14, 2018(Roll call 54); Signed by President Trump. May 24, 2018
Source: Congressional vote 16-S2155 on Mar 14, 2018
Reducing tax rates balloons federal deficit & cuts programs.
Polis voted NAY Tax Cuts and Jobs Act
Summary by GovTrack.US: (Nov 16, 2017)
For Corporations:- Reduce the corporate tax rate to 21% from 35%.
- Overseas earnings would be taxed at 15.5% as opposed to the current 35%. This may seem like an enormous reduction, but current law only taxes overseas earnings if they are returned to the US; the 15.5% rate would apply regardless.
For Individuals:- Lower the rate for the highest earners from 39.6% to 37%.
- Nearly double the standard deductions for individuals but repeal personal exemptions.
- The Affordable Care Act`s individual mandate would be repealed.
Case for voting YES by Heritage Foundation (12/19/17):This is the most sweeping update to the US tax code in more than 30 years. The bill would lower taxes on businesses and individuals and unleash higher wages, more jobs, and untold opportunity through a larger and more dynamic economy. The bill includes many pro-growth features, including a deep reduction in the corporate
tax rate, a scaled-back state and local tax deduction, full expensing for five years, and lower individual tax rates. Case for voting NO by Sierra Club (11/16/17): Republicans have passed a deeply regressive tax plan that will result in painful cuts to core domestic programs, to give billionaires and corporate polluters tax cuts while making American families pay the price. Among the worst provisions:
This plan balloons the federal deficit by over $1.5 trillion. Cutting taxes for the rich now means cuts to the federal budget and entitlements later.The bill hampers the booming clean energy economy by ending tax credits for the purchase of electric vehicles and for wind and solar energy.The bill opens up the Arctic Refuge to drilling, a thinly veiled giveaway to the fossil fuel industry.Legislative outcome: Passed House, 224-201-7, roll call #699 on 12/20; passed Senate 51-48-1, roll call #323 on 12/20; signed by Pres. Trump on 12/22.
Source: Congressional vote 17-HR1 on Nov 16, 2017
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Other governors on Corporations: |
Jared Polis on other issues: |
CO Gubernatorial: Greg Lopez Heidi Ganahl CO Senatorial: Alice Madden Andrew Romanoff Angela Williams Cory Gardner Dan Baer Eli Bremer Ellen Burnes Joe O`Dea John Walsh Michael Bennet Mike Johnston Ron Hanks
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Gubernatorial races 2025:
New Jersey Governor:
Democratic primary June 10, 2025:
- Ras Baraka, Mayor of Newark (2014-present)
- Steven Fulop, Mayor of Jersey City (2013-present)
- Josh Gottheimer, U.S. Rep. NJ-5 (since 2017)
- Mikie Sherrill, U.S. Rep. NJ-11 (since 2019)
- Stephen Sweeney, N.J.Senate President (2010-2022)
Republican primary June 10, 2025:
- Jon Bramnick, State Senator (since 2022); Minority Leader (2012-2022)
- Jack Ciattarelli, State Assemblyman (2011-2018), governor nominee (2021)
- Edward Durr, State Senator 3rd district (2022-2024); withdrew
Virginia Governor:
Democratic primary June 17 cancelled:
- Abigail Spanberger, U.S.Rep., VA-7 (2019-2024); Dem. nominee 2025
- Levar Stoney, VA Secretary of the Commonwealth (2014-2016); (withdrew to run for Lt. Gov.)
Republican primary June 17 cancelled:
- Winsome Earle-Sears, Lt. Gov. since 2022; GOP nominee 2025
- Amanda Chase, State Senate District 11 (2016-2023); failed to make ballot
- Denver Riggleman, U.S.Rep. (R-VA-5); exploratory committee as Independent
- Glenn Youngkin, Incumbent Governor , (2022-2025), term-limited
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Mayoral races 2025:
NYC Mayor Democratic primary June 24, 2025:
- Adrienne Adams, speaker of the City Council
- Andrew Cuomo, former governor of New York, 2011-2021.
Republican June 24 primary cancelled; general election Nov. 4:
- Eric Adams, incumbent Democratic mayor running as an independent
- Jim Walden, Independent; Former assistant U.S. Attorney
- Curtis Sliwa, Republican; CEO of the Guardian Angels
Jersey City Mayor (Non-partisan)
Non-partisan general election Nov. 4:
- Mussab Ali, former president of the Jersey City Board of Education
- Bill O'Dea, Hudson County commissioner (since 1997)
- Jim McGreevey, former N.J. Governor (2002-2004)
- James Solomon, city councilor (since 2017)
- Joyce Watterman, president of the Jersey City Council (since 2023)
Oakland CA Mayor
Non-partisan special election April 14, 2025:
- Barbara Lee, U.S.Rep CA-12 (1998-2025)
- Loren Taylor, Oakland City Council (2019-2023), lost general election
- Sheng Thao, Oakland Mayor, lost recall election Nov. 5, 2024
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