This District has the potential to be a model of how progressive policies benefit all communities. The wealthiest Americans have greatly benefited from a tax policy that has had a disastrous impact on the middle and working classes. If elected, I will oppose policies that raise taxes on the middle AND working classes. However, while I strongly believe that everyone should pay their fair share, I am also against penalizing residents who have worked to secure a solid foundation for their families by establishing businesses that provide employment opportunities for our residents.
In order for our economy to recover, we have to address the issues of income inequality and unemployment, and close the loopholes in the tax code that rob our district of the revenue needed to provide basic services to residents.
I will also be an advocate for stronger reforms on Wall Street because, as a Councilman, I am used to representing Main Street. I have made some extremely difficult decisions in order to save jobs and keep the largest city in New Jersey out of financial ruin, and Washington, D.C. can too.
As your Congressman, I will address financial reform fairly. I do not think that large financial institutions are evil by nature. However, I do believe that stronger regulations are needed to discourage the irresponsible behavior of the minority of financial institutions responsible for our nation’s current economic situation.
Specifically, I will:
- Support the Buffett Rule because it requires millionaires and billionaires to do their fair share, but does NOT raise taxes on the 98 percent of American families who make under $250,000 a year. Having the rich pay their fair share cuts our deficit and does not harm the economic recovery begun by President Obama.
- Support the end of the Bush era tax cuts for the wealthy that have brought our economy to its knees as they have cost our federal government over 2.5 trillion dollars in much needed revenue since 2001 and not created ANY new jobs
- Support the end of tax breaks for shipping jobs overseas
- Support establishing a strong Estate Tax