Victory for NY's Working Families!

Statement

This week, I am proud that Governor Andrew Cuomo led our nation in the FightFor15 Campaign by signing legislation that will establish 12 weeks of paid family leave and increase the minimum wage in New York. With these newly enacted laws, New Yorkers no longer will have to make the impossible choice between family and a paycheck. Our victory is a giant leap forward in closing the opportunity gap and building an economy that works for everyone. The fight to raise the federal minimum wage to $15 per hour is far from over, but I am confident that New York's landmark legislation is an early triumph in a nationwide movement to lead in a new era of higher quality of life and economic empowerment for all Americans. I will keep fighting to ensure a livable wage for everyone across our great Nation.

Tax relief can also substantially lessen the financial burden on working families. With Tax Day approaching on April 18th, there are many resources to help people save money and claim benefits, such as the Earned Income Tax Credit (EITC) which I helped create in 1975. Still, it is estimated that five to seven million people miss out on tax benefits, missing out on almost 12 billion dollars in refunds per year. As we continue to increase access to free tax preparation and e-filing services, we must focus on reforming our current tax system to help our working families gain economic security.

Unfortunately as millions of hard-working Americans are paying taxes this month, many big corporations are taking advantage of the loopholes in our current tax system and not paying the billions of dollars in taxes to our country. This lost revenue could be used to help fund schools, infrastructure and crucial safety net programs. I was proud to stand behind President Reagan when he last signed the Tax Reform in 1986, and since have been a long-term advocate of modernizing the system to close loopholes that will make certain that big businesses play by the same rules as working families. Many corporations pay more to their CEO's than to Uncle Sam, and often make decisions based on tax rules rather than the market condition. At a time when we are trying to revamp our economy and reduce our deficit, Congress must eliminate special-interest loopholes and end tax breaks for companies that outsource jobs. I applaud President Barack Obama for urging Congress to take action on Corporate Tax Reform. Our country needs corporations that are invested in the American Dream by moving these jobs back to America.

Thank you for the honor of serving you.

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