Strengthening our economy and job creation in New Jersey is Congressman Pallone's foremost priority in Congress and will continue to be his focus in the U.S. Senate. Congressman Pallone supports a comprehensive jobs plan to get Americans back to work, and believes we can accomplish this through the Democrats' "Make It in America" agenda which does more to encourage businesses to make products in the U.S. and supports investments in important and promising areas like education and clean energy innovation. Manufacturing has been a key part of the American Dream, and we must protect and renew it by insisting that more products be "Made in America."
Congressman Pallone also supports President Obama's jobs plan, which will help rebuild the American economy by reviving American manufacturing, developing new and innovative energy sources, educating and creating a stronger and more skilled workforce and renewing our American values.
The plan will hold corporations accountable and put an end to rewarding businesses that ship jobs overseas. Manufacturers will receive the tax cuts they need to not only keep their operations here in the U.S., but will be incentivized to be a part of rebuilding communities hit hard by the economic crisis.
President Obama's plan also calls for investments in America's future by supporting the kind of innovation and research that will keep us on the cutting edge of advancing new technologies.
Congressman Pallone believes that we need to create a tax system that is fairer to hard-working middle class Americans and levels the playing field to give everyone a chance to achieve the American Dream. Under the current system, a disproportionate tax burden is being placed on the middle class, with the wealthiest Americans shouldering far less than their fair share if taxes, which is why Congressman Pallone supports the "Buffett Rule."
The "Buffett Rule" is based on the basic principle that no household making over $1 million annually should pay a smaller share of their income in taxes than middle-class families pay. Congressman Pallone believes that the system of balancing out budget and tax system on the backs of hardworking middle class Americans is unsustainable and unfair. In fact, the top 400 richest Americans--all making over $110 million--paid only 18 percent of their income in income taxes in 2008. Congressman Pallone's plan proposes that no millionaire pay less than 30 percent of their income in taxes and calls for an end to the Bush-era tax cuts for the wealthiest Americans, giving new hope and a fair shot to the middle class.