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Kamala Harris on Tax Reform

Democratic candidate for President; California Senator

 


Tax relief for middle class; repeal 2017 tax cuts

She introduced the LIFT the Middle Class Act which, Vox's Dylan Matthews explains, was basically an expansion of the earned income tax credit. Earlier, she proposed the Rent Relief Act, which would offer tax credits to help with rents. She said she would fully repeal the 2017 Republican tax law and replace it with LIFT.
Source: Axios.com "What you need to know about 2020" , May 7, 2019

LIFT Act: $500 monthly tax credit for eligible middle class

57 percent of Americans don't have enough cash to cover a $500 unexpected expense. That's one of the reasons I've introduced the LIFT the Middle Class Tax Act in the U.S. Senate, a bill that creates a major new middle-class tax credit that would provide eligible families up to $6,000 a year--the equivalent of $500 a month. Families would be able to receive the credit as a monthly stipend, rather than wait for a refund the following year. It's a different kind of safety net, one that prevents hardworking people from falling out of the middle class, or gives them a fair shot at attaining it for their families. This is the kind of tax relief we can provide when we stop giving endless tax cuts to corporations and the wealthy.
Source: The Truths We Hold, by Kamala Harris, p.219 , Jan 8, 2019

Payments to needy, not tax breaks for the rich

The Lift the Middle Class Act would provide monthly cash payments of up to $500 to lower-income families, on top of the tax credits and public benefits they already receive. "Last year, Congress gave a trillion dollars in tax breaks to corporations," Harris told me. "That money should have gone to American taxpayers who need it instead of handing it over to corporations and the top 1 percent."

Harris is offering as much as $3,000 a year for a single person or $6,000 a year for a married couple, on top of existing tax and transfer programs, disbursed either as a lump-sum tax refund or as a monthly payment. Working families making less than $100,000 a year would qualify, including those making close to nothing. As many as 80 million Americans would benefit, Harris's office has estimated, with the Center on Budget and Policy Priorities calculating that the proposal would lift 9 million people out of poverty, including nearly 3 million kids.

Source: The Atlantic, "Tax Plan," on 2020 presidential hopefuls , Oct 18, 2018

Expand EITC, Child Tax Credit, and R&D Tax Credit

Source: 2016 California Senate campaign website, KamalaHarris.org , Aug 31, 2016

Other candidates on Tax Reform: Kamala Harris on other issues:
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Page last updated: Jun 03, 2019