One of the best tools we have to incentivize large businesses and corporations to behave well—and discourage them from behaving badly—is our tax code.
When President Trump signed his tax bill into law last year, he promised it would help Americans. Either he was lying—or he truly doesn’t understand how the tax code works.
Trump handed corporations huge tax windfalls. Now, those companies are using that money to maximize their profits and move jobs overseas. Just look at what’s happening in Lordstown, where GM is shuttering their plant while potentially getting a tax cut for creating jobs in Mexico.
Trump’s tax law didn’t solve a damn thing—it exacerbated the problem. We need a tax code that discourages corporations from shipping jobs off our shores. We need a system that prioritizes the wellbeing of workers and their families.
My plan would strike Trump’s tax law and replace it with a system that:
- Prioritizes workers and families;
- Incentivizes businesses to invest in good-paying American jobs; and
- Penalizes corporations that refuse to pay workers a living wage.
This is how we put money back in the pockets of workers and their families. A smart tax code that puts workers before corporate profits will help families all across the country.