Biden Cabinet members actions and issues: on Tax Reform


Janet Yellen: Efficient taxation of multinational companies a priority

Yellen was voted-in to replace Steven Mnuchin, who suspended OECD-led talks on the two-pillar digital tax approach in June 2020. Corporate confidence is high on Yellen restarting negotiations after she stressed that efficient taxation of multinational companies was a priority.

"Working in the context of the OECD negotiations on global taxation, we have much greater leverage to keep our American firms competitive if we avoid a race to the bottom in corporate taxation more globally," said Yellen.

Source: International Tax Review on 2021 Biden Cabinet Jan 29, 2021

Janet Yellen: Corporations & wealthy need to pay their fair share

Yellen said pandemic relief would take priority over tax increases, but corporations and the wealthy, which both benefited from 2017 Republican tax cuts "need to pay their fair share."

She raised eyebrows of some senators and Wall Street when she said that Treasury would consider the possibility of taxing unrealized capital gains - through a "mark-to-market" mechanism - as well as other approaches to boost revenues.

Source: Reuters news service on 2021 Biden Cabinet Jan 19, 2021

Pete Buttigieg: Move from fuel taxes to mileage fees to fund roads

The federal government paid for its share of the road network using proceeds from a federal gas tax. That money was put in a special "trust fund." Congress hasn't raised the per-gallon rates since 1993. Meanwhile, vehicles are becoming more fuel efficient, meaning people have to buy less gas per mile that their cars travel. The trust fund went broke. When Buttigieg ran for president, he said USDOT should come up with a way to move from fuel taxes to mileage fees.
Source: Pennsylvania Capital-Star on Biden Cabinet Dec 26, 2020

Tom Vilsack: One sliver of society isn't going to pay for the rest of us

Vilsack says Sen. Warren's increase in taxes on wealthy Americans to finance her health care proposal is unrealistic. Vilsack said Warren's plan wrongly suggests voters will accept that an increase in her proposed tax on the wealthiest Americans won't affect their own pocketbooks. Vilsack says "One sliver of society isn't going to pay for the rest of us."
Source: CBS-2 Iowa News Now/A.P. on 2021 Biden Cabinet Nov 1, 2019

  • The above quotations are from Biden Cabinet members actions and issues.
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2020 Presidential contenders on Tax Reform:
  Democrats running for President:
Sen.Michael Bennet (D-CO)
V.P.Joe Biden (D-DE)
Mayor Mike Bloomberg (I-NYC)
Gov.Steve Bullock (D-MT)
Mayor Pete Buttigieg (D-IN)
Sen.Cory Booker (D-NJ)
Secy.Julian Castro (D-TX)
Gov.Lincoln Chafee (L-RI)
Rep.John Delaney (D-MD)
Rep.Tulsi Gabbard (D-HI)
Sen.Amy Klobuchar (D-MN)
Gov.Deval Patrick (D-MA)
Sen.Bernie Sanders (I-VT)
CEO Tom Steyer (D-CA)
Sen.Elizabeth Warren (D-MA)
Marianne Williamson (D-CA)
CEO Andrew Yang (D-NY)

2020 Third Party Candidates:
Rep.Justin Amash (L-MI)
CEO Don Blankenship (C-WV)
Gov.Lincoln Chafee (L-RI)
Howie Hawkins (G-NY)
Gov.Gary Johnson(L-NM)
Howard Schultz(I-WA)
Gov.Jesse Ventura (I-MN) 		Republicans running for President:
Sen.Ted Cruz(R-TX)
Gov.Larry Hogan (R-MD)
Gov.John Kasich(R-OH)
V.P.Mike Pence(R-IN)
Gov.Mark Sanford (R-SC)
Pres.Donald Trump(R-NY)
Rep.Joe Walsh (R-IL)
Gov.Bill Weld(R-MA & L-NY)

2020 Withdrawn Democratic Candidates:
Sen.Stacey Abrams (D-GA)
Mayor Bill de Blasio (D-NYC)
Sen.Kirsten Gillibrand (D-NY)
Sen.Mike Gravel (D-AK)
Sen.Kamala Harris (D-CA)
Gov.John Hickenlooper (D-CO)
Gov.Jay Inslee (D-WA)
Mayor Wayne Messam (D-FL)
Rep.Seth Moulton (D-MA)
Rep.Beto O`Rourke (D-TX)
Rep.Tim Ryan (D-CA)
Adm.Joe Sestak (D-PA)
Rep.Eric Swalwell (D-CA)
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Page last updated: May 20, 2021