2016 NY Senate race: on Budget & Economy

Wendy Long: High-tax policies have led to a weak recovery

Wendy Long: Obama-Schumer high-tax policies have led to a weak recovery from the Financial Crisis that has kept middle-class incomes stagnant and produced low quality jobs for many New Yorkers. Chuck Schumer realized that the Obama tax policies raised taxes on middle-class New Yorkers, but supported them nonetheless. Our tax code is also overly complicated with provisions that benefit special interests and not the forgotten working individuals and small businesses. I will support any plan to lower individual tax rates, simplify the tax code, and eliminate special interest loopholes like the carried interest loophole and deduction for mortgage interest on vacation homes. I would propose, for example, reducing today's seven tax brackets to three (10%, 25%, and 28%), and eliminating the ObamaCare taxes.