Ruben Gallego on Tax Reform

Keep middle-class tax cuts, no to increased corporate cuts

Ruben: We need to keep the middle-class portion of the tax cuts. The tax cuts to the corporations that made billions of dollars on price gouging those need to go up. She was actually for a bigger tax cut. That's ridiculous. We also need to bring in a child tax credit as part of that Trump tax cut, but giving more tax cuts to those not paying their fair share is unfair.

Lake: We are not only going to be extend the Trump tax cuts. We will make sure we are not making anyone who is a senior citizen pay taxes on your Social Security check, no more taxes on tips and overtime. We have got to stop printing money like it's going out of style. That is with the democrats have done, and we will start cutting back on wasteful spending of government.

End tax loopholes and exorbitant giveaways for the rich

Supports tax increases, according to PVS rating.

Project VoteSmart infers summary responses from campaign statements and news reports The PVS survey summarizes candidate stances on the following topic: 'Budget: In order to balance the budget, do you support an income tax increase on any tax bracket?'

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

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.