Issue Position: Budget and Taxes
Since coming to Congress in 1996, Congressman Blumenauer has based his fiscal policies on five basic principles:
* Fair tax relief for working Americans.
* Funding commitments to our children, seniors, veterans, and the environment.
* Honoring our promises to present and future Social Security and Medicare recipients.
* Paying down our national debt currently at over $7 trillion and growing.
* Avoiding future funding shortfalls.
Congressman Blumenauer continues to support budget and tax policies that are fiscally prudent and deal with the challenges our country faces. He is fighting to ensure that Congress moves towards a fiscal framework that is sustainable and is done with consideration of long-term consequences. Blumenauer will continue to support changes to the most critical unresolved tax issues that will create fairness and fiscal stability.
Tax Relief Priorities
Congress should reform the Alternative Minimum Tax, an increasingly burdensome tax which now affects millions of taxpayers to whom it was never intended to apply. In a few short years tens of millions of taxpayers will be penalized by additional taxes and more burdensome tax preparation.
The estate tax should be reformed to be fair and equitable by removing family-owned farms and businesses from its scope, raising exemption levels, changing the marginal rates, and indexing for inflation.
Currently the Medicare system is dramatically shortchanging Oregon and other states billions of dollars a year. Until the federal government stops penalizing Oregon and other low-cost states for being efficient, the Medicare payroll tax should be reduced.
Congressman Blumenauer supports fair and equal treatment for lower income families, who pay federal tax but were not provided the childcare tax credit.
Future federal tax changes should be in the form of specific credits that will not penalize state tax systems that are tied to the federal code.
Irresponsible tax cuts
Congressman Blumenauer opposes recent tax cuts pushed forward by the Administration. Blumenauer strongly opposes the actions of the administration and Congress to again cut taxes for those who need it the least while ignoring the needs of lower income tax payers and the economy in the long term.