'Remaking the tax code the way Chairman Camp is proposing would concentrate more power and wealth in the hands of a few instead of investing it in America’s working families. Tax reform is one of the country’s best chances to make sure big corporations and wealthy individuals begin to pay their fair share.
'When we write better tax policies, we can provide a world-class education for our kids, fix our crumbling roads and bridges, and fund cutting-edge scientific research the way we used to. We should close loopholes that reward companies for parking profits overseas and for destabilizing our climate. We can stop making it profitable to ship American jobs overseas. We can expand and make permanent the Earned Income Tax Credit (EITC) and the Child Tax Credit, which help working families thrive.
'... 'The Congressional Progressive Caucus has long insisted that tax reform must follow commonsense principles aimed at ending the terrible income disparity in this country. A new tax code should be revenue positive, promote responsible corporate behavior, and create a global system that works for the American people. It should restore progressivity and make sure the wealthiest taxpayers pay fair rates. It should stop government spending that only benefits the wealthy and increase spending that supports working families, the poor and seniors.
'This proposal fails every one of those popular tests.'
Statement issued by Congressional
Progressive Caucus (CPC) Co-Chairs
Reps. Raul M. Grijalva (D-AZ)
and Keith Ellison (D-MN) released
after Rep. Dave Camp, chairman of
the House Committee on Ways and
Means, released a proposal for
comprehensive tax reform.