Tax Reform and Fiscal Responsibility
Rep. John Delaney (MD-06)
Rep. Scott Peters (CA-52)
Rep. Terri Sewell (AL-07)
The New Democrat Coalition's Principles for Comprehensive, Growth-Focused Tax Reform (Released 2011):
In the past 25 years, the global economy has become increasingly dynamic and interconnected. To help American businesses and workers succeed, our nation’s system of taxation needs to evolve to reflect the challenges facing modern businesses and opportunities for growth as well as address how individuals earn and utilize their income
Since 1986, Congress and various Administrations have added layer upon layer of targeted – and often temporary – tax benefits to the code. While a number have merit, many have proven ineffective in spurring economic growth and innovation, and the end result is a system that is mired with inefficiencies and instability, imposes burdensome compliance costs that impede economic growth and impairs the ability of businesses and individuals to plan ahead and compete. With debt levels at historic highs and threatening future economic stability, it is further imperative that tax reform create a pro-growth environment. An improved tax code will provide certainty for individuals and businesses as well as a stable and efficient source of revenue for essential government investments and services.
What They're Saying About the New Dems' Efforts to Overhaul America's Tax Code:
POLITICO: The New Democrats are preparing to take an active role in the upcoming tax reform debate...manufacturing and R&D credit expansion tops the agenda for the Coalition, and recognizing the economic growth that stems from including tax provisions supporting those industries in tax reform could help lawmakers expand those tax benefits.
Bloomberg BNA: "'I think there's great consensus around here that we've got a tax code that's not working for businesses and for working families, and it has to be simplified, but we also have to pay for it,' said Rep. Ron Kind (D-Wis.), the Coalition's chairman."
More on Tax Reform and Fiscal Responsibility
The New Democrat Coalition Chair Jim Himes (CT-04) released the following statement on President Trump’s Skinny Budget:
Co-Chairs: Representatives Terri Sewell, Don Beyer, and Brad Schneider
The Tax Reform Task Force will seek ways to modernize the tax code to create U.S. jobs, foster innovation, and support middle class families, without leaving behind a greater burden of debt for future generations.
Today, Chair Emeritus Rep. Ron Kind (WI-03) introduced the Investing in Opportunity Act, which will boost economic growth in communities that have been left behind by incentivizing more private sector investment. The New Democrat Coalition is committed to growing the economy and increasing opportunities for all Americans. New Democrats support solutions to boost private sector investment to help communities across the country grow and thrive so that all Americans feel they are getting a fair shot at economic opportunities.
Ben Weyl, Budget & Appropriations Brief Editor for POLITICO Pro, highlights the fiscally responsible New Democrats and the House Budget vote. Many New Democrat Coalition Members voted against the Yarmuth Amendment as well as the GOP-proposed budget. The New Democrat Coalition mention can be found below and you can read the full piece here.
Today New Democrats voted against the Regulations from the Executive in Need of Scrutiny (REINS) Act. The REINS Act undermines the power of agencies set up to enforce governmental regulations by requiring Congressional approval of all major rules. Instead of improving America’s regulatory environment, the bill will paralyze executive branch rule-making leading to inefficiency in government.
Washington, DC – Today, the New Democrat Coalition released an update of the American Prosperity Agenda: Winning the Future. The agenda, originally released in March 2015, details the work New Dem Members have done to advance legislation that will help hardworking Americans succeed in a 21st century economy.
Washington, DC – Yesterday, New Dem Chair Rep. Ron Kind (WI-03) introduced a bipartisan bill that creates an incentive for entrepreneurs and businesses to invest in economically distressed communities across the country. The bill opens the door to private capital in many ways as it removes barriers to investment, concentrates capital through geographical targeting, and provides incentives for investors to make long-term commitments. Rep. Kind released the following statement:
Our economy is changing, and so must our efforts to find the most innovative, effective solutions for adapting to those changes. In response to Americans’ concern over the changing economy, the New Democrat Coalition developed the American Prosperity Agenda to help hardworking Americans thrive in the changing global economy. Earlier this week, New Dems Rep. Scott Peters (CA-52) and Rep.
Washington, DC – Today, the House passed an omnibus spending bill on a bipartisan vote of 316-113. Leadership Members of the New Democrat Coalition released the following statement: