Tax Reform and Fiscal Responsibility
A modern tax code for the U.S. should foster business development and innovation, support middle class families, and create opportunities for Americans to prosper in a 21st century economy. The current tax code is a complicated collection of outdated provisions riddled with loopholes in serious need of comprehensive overhaul. In too many ways, existing tax laws stifle entrepreneurship and fuel uncertainty as many provisions rely on yearly extensions. New Dems support comprehensive tax reform recognizing the pressing need to update our tax laws and have proposed bills to fix portions of the tax code that will be vital to overall reform and international competitiveness.
This year, New Democrat Coalition Members sent a letter to President Trump on the opportunity to move a big infrastructure package tied with tax reform. For too long, Congress has relied on irresponsible, stop-gap measures that hinder economic growth and make it more difficult to revitalize our outdated infrastructure and Byzantine tax code. The New Democrat Coalition’s 21st Century Infrastructure Task Force Co-Chairs Reps. John Delaney, Elizabeth Esty, Stacey Plaskett, and Norma Torres led the letter.
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Today, New Democrats voted against the harmful, Republican tax bill that passed the House. New Democrats recognize the need for comprehensive tax reform, but this bill explodes the deficit, fails to simplify the tax code, and increases taxes on the middle class. In response, several key Members of the New Democrat Coalition released the following statement:
House Republicans released their one-sided tax proposal. New Democrats have continued to offer to work with House Republicans on a truly bipartisan tax reform plan, but instead Republican Leaders chose a partisan path that excluded Democrats and many of their own members from the negotiation process. In response, key Members of the New Democrat Coalition released the following statement:
New Democrat Coalition Chair Jim Himes (CT-04) released the following statement on the budget that passed the House of Representatives today, setting the stage for advancing a partisan tax bill in the coming weeks:
The New Democrat Coalition released a set of principles to increase long-term federal investments in infrastructure improvements. Infrastructure projects are consistently evaluated as the best return on government investments, and with all the devastation that many of our cities and towns have faced in recent weeks, infrastructure investment is more important now than ever.
House Republicans released their one-sided, regressive tax proposal without bringing any Congressional Democrats to the negotiating table. In response, the New Democrat Coalition released the following statement:
Today, New Democrat Coalition Chair Jim Himes (CT-04) released the following statement after voting to raise the debt ceiling, avoid a government shutdown, and provide Hurricane Harvey relief:
“The full faith and credit of the United States should never be used as a bargaining chip - the consequences of failing to raise the debt limit are far too dire. Today, in a glimmer of hope for bipartisanship, I joined my colleagues to increase the debt limit and avoid a government shutdown.
Today, New Dem Members Reps. Scott Peters, Kathleen Rice, Susan Davis, and Don Beyer met with National Institute of Health (NIH) Director Dr. Francis Collins, doctors, researchers, and patients and toured several research labs including National Heart Lung and Blood Institute (NHLBI), National Institute of Arthritis and Musculoskeletal and Skin Diseases (NIAMS), and National Institute of Nursing Research (NINR).
Today the House passed the Financial CHOICE Act, a bill that will dismantle the most important aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Dodd-Frank is a pro-growth, pro-market oriented policy that has improved accountability in the financial system and protected consumers, investors, and the economy from abusive practices. If the CHOICE Act becomes law, financial institutions will once again be able to undertake risky practices and could trigger another financial crisis.
The New Democrat Coalition Chair Jim Himes (CT-04) released the following statement on President Trump’s proposed budget:
Today, 46 New Democrat Coalition Members sent a letter to President Trump on the opportunity to move a big infrastructure package tied with tax reform. For too long, Congress has relied on irresponsible, stop-gap measures that hinder economic growth and make it more difficult to revitalize our outdated infrastructure and Byzantine tax code.