Since coming to Congress in 1996, Congressman Blumenauer has based his fiscal policies on five basic principles:
* Fair tax relief for 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; and
* Avoiding funding shortfalls for important national priorities.
Congressman Blumenauer continues to support a tax policy that is prudent and responsive to our nation's challenges. He is fighting to ensure that Congress moves towards a fiscal framework that is sustainable and is done with consideration of long-term consequences. Congressman Blumenauer will continue to support changes to the most critical unresolved tax issues that will create fairness and fiscal stability.
Tax Relief Priorities
Congressman Blumenauer is working to reform the Alternative Minimum Tax, an increasingly burdensome tax which now affects millions of taxpayers. In a few short years, tens of millions of taxpayers will be penalized by additional taxes and more burdensome tax preparation.
Congressman Blumenauer is also working to fund important national environmental priorities. Investing in America's future by incubating sustainable energy resources, encouraging denser urban growth, and protecting America's open space are all key priorities that tax reform can help achieve and will pay dividends to taxpayers. Congressman Blumenauer is working to integrate these concepts into the tax code.
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.
Irresponsible tax cuts
Congressman Blumenauer strongly opposes the tax cuts imposed by the Bush Administration and opposes any effort to make them permanent. If the cuts are made permanent, the top 1% of households (currently those with annual incomes exceeding $450,000) will receive more than $1.1 trillion in tax cuts over the next ten years. The cost of these tax cuts to the wealthy will exceed the total amount the federal government devotes to K-12 and vocational education.