President Ronald Reagan recognized the inequities in our tax system and sought to change them. Three decades ago, he said it was “crazy” that a bus driver could pay more in taxes than a millionaire. President Reagan spoke of closing “the unproductive tax loopholes that have allowed some of the truly wealthy to avoid paying their fair share.”
The Paying a Fair Share Act would ensure that middle class workers do not pay a higher tax rate than those earning more than $1 million a year. This common sense solution would address the disparity that Warren Buffett decried and it will reduce the deficit by billions of dollars over the next decade.
It’s high time we leveled the playing field between middle class taxpayers and millionaires and billionaires. The Paying a Fair Share Act will help restore people's faith that if you work hard and play by the rules, you'll have a chance to get ahead. It's up to Congress to fix this obvious injustice. The American people deserve to know where their Representatives stand on this critical opportunity to restore fairness in our tax system.
I ask my colleagues in the House to join me in taking this first step to strengthen our middle class and rebuild our economy with a commitment to shared responsibility and shared sacrifice.
Representative Tammy BaldwinTammy BaldwinOvernight Finance: Wall Street awaits Brexit result | Clinton touts biz support | New threat to Puerto Rico bill? | Dodd, Frank hit back Dem hopeful that Congress will eliminate tax break for investment fund managers Congress should stop government hacking and protect the Fourth Amendment MORE (D-Wis.) serves on the Committee on Energy and Commerce, as well as the Subcommittee on Environment and the Economy.