Bob Casey on Tax Reform Democratic Sr Senator (PA)

Change estate tax to save $730B over 10 years

CASEY: When it comes to the budget, what’s missing principally is a lack of fiscal responsibility. [We should] repeal the tax cut for people making over $200,000 a year. That change, in addition to an estate tax change, could get you about $730 billion over 10 years.

Q: How does that balance the current budget?

CASEY: You can’t balance a budget in one year. They’ve put us in such a fiscal hole, it will take many years.

Q: Well, give me a couple ideas.

SANTORUM: Changing the estate tax cut would cost money over the long term, not save money. The death tax snaps back to the old death tax in 2011, and it would cost $100 million just to do the changes that he suggested. I’m for not taking more people’s money when they die.

Repeal tax cut on top 1% of earners

A: The answer is simple when it comes to the top 1%. I said in front of 1200 business leaders in Philly: If there is an opportunity to repeal the tax cut to the top 1%, I’ll do that. We can’t afford it any longer, in a time of crises in health care, a time of staggering deficits, trade deficit, and national debt. But we can have tax relief for the middle class.

Can’t justify $5B in tax cuts when schools are suffering

A: I don’t think it’s that stark a choice. When a governor faces a budget deficit, you have to prioritize where the dollars are going to go and where your focus is. But when you have just a 1 percent increase for schools, I think for me that’s an easy choice. You can’t even keep the lights on for 1 percent. I couldn’t justify $5 billion in cuts. Cutting the education budget -- that’s not the way to go.

Supports increasing 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"

Opposes eliminating 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""