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Hardworking American families deserve a raise.
That's why the three of us are going to keep fighting, every
day, to raise the minimum wage. And it's why we're joining together to urge
passage of our 21st
Century Worker Tax Cut Act.
Our new legislation would modernize the tax code to help
working families keep more of what they earn -- and pay for it by closing tax
loopholes that allow the wealthiest Americans and big corporations to avoid
paying their fair share.
Together, we can give American workers and their families a
better chance to get ahead in today's economy. But we need your help to show
that our new plan has broad grassroots support.
Our workforce has changed over time, but our tax code hasn't
kept up. It's time to close the gaping loopholes, stop corporations from
hiding money in offshore tax shelters, and update our tax laws to reward hard
work so millions more families can make ends meet.
The cornerstone of our 21st
Century Worker Tax Cut Act is to expand the Earned Income Tax
Credit (EITC) to even more low and middle-income workers. The EITC provides a
crucial benefit to working families at tax time -- but it needs to be bigger,
better, and stronger to reward hard work.
Here's how our plan will reward hard work in America:
- Slash
the "marriage penalty" by allowing low- and middle-income
couples with children to deduct 20% from one spouse's taxable income;
- Increase
the maximum EITC to $1,400 for childless workers;
- Expand
the credit to working childless adults, including adults under 25, who
make up to 133% of full-time earnings at the minimum wage;
- Stop
corporations from skirting tax rules that limit tax write-offs for
executive pay over $1 million; and,
- Crack
down on offshore tax havens that U.S. corporations use to skirt
oversight and avoid taxes.
Our plan draws from ideas both Democrats and Republicans can
agree on -- but we need to build public pressure to make sure Congress
actually puts these ideas into action.
By signing on as a citizen co-sponsor, you can help us show
our colleagues that America believes that low-income working families deserve
better. The 21st Century
Worker Tax Cut Act will help move us toward a level playing field
for all.
We're proud to stand side by side in sponsoring this critical
legislation in Congress -- but we'll be even prouder to know that you're
standing with us as a citizen co-sponsor.
Together, we can ensure hardworking Americans receive the tax
cut they deserve.
Thanks for your support,
Jack Reed, U.S. Senator
Patty Murray, U.S. Senator
Sherrod Brown, U.S. Senator
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