While the economic policies of the past eight years may have been a short-lived boon for the people on Wall Street, the people on Main Street have been feeling the pain of an economic system that seems to have forgotten them. Wages are down, unemployment is up, and all across New Jersey families are struggling to make ends meet. The Bush administration has pursued a misguided policy of tax cuts for the wealthiest Americans, incentives to actually outsource American jobs and vast deregulation that allowed our current financial crisis to occur. It's time to reform these failed policies and start making the American economy work for everyone again.
I have supported several proposals that will get our economy back on track, cut taxes for the middle class, increase wages, and save homes from foreclosure. As a member of the House Ways and Means Committee, I worked hand in hand with other Congressional leaders on a bill that would have prevented the Alternative Minimum Tax from affecting more than 55 million Americans, and would have offset the cost by closing income tax loopholes that allow billionaires to pay capital gains taxes at half the rate of the majority of Americans. Additionally, we sent over $100 billion in tax relief to more than 100 million American households, stimulating the economy by helping working class families balance their budgets.
The middle class is the backbone of the American economy, and I will continue to support an economic platform that puts the interests of working families ahead of the wealthy few.
(Creative Commons photo by Mister V)
