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White House - FACT SHEET: A Better Bargain for the Middle Class: Jobs [View all]
The White House
Office of the Press Secretary
For Immediate Release
July 30, 2013
FACT SHEET: A Better Bargain for the Middle Class: Jobs
One of the cornerstones of the President’s plan to create a better bargain for the middle class is to ensure that every American who is willing to work for it will have the opportunity for a good job that pays good wages. In today’s speech, the President laid out an idea that both parties should be able to support to create jobs: a plan that simplifies the tax code for our businesses and gives working families a better deal.
Our current tax code is broken and too complex, with businesses that play by the rules paying a 35% tax rate while many corporations that can hire hundreds of lawyers pay virtually no taxes at all. That is why the President has called for a revenue-neutral simplification of our business tax code to eliminate loopholes that encourage companies to ship jobs overseas and establishes a top tax rate of 28%. Under the President’s proposal, some businesses would pay less, some corporations would pay more, but everyone would pay their fair share. But if we’re going to give businesses a better deal, we should give the people who work there a better deal too. Today, the President is calling for a pro-growth tax reform and jobs package that would be fully offset using one-time revenues raised as we transition to a new business tax system. The transition revenue would support much-needed investments such as modernizing our infrastructure; creating new manufacturing hubs; and training our workers with the skills they need for the jobs of today and tomorrow. At the same time, President Obama remains committed to pursuing a long-term deficit reduction deal that includes revenue-raising individual tax reform and a balanced approach to replacing the damaging sequester.
The bottom line is that the President will work with Republicans on a package to simplify our business tax code so long as it includes real investments to help restore middle class security, create jobs and grow the economy.
Summary of the Pro-Growth Tax Reform and Jobs Package
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Full post with 'summary' here: http://www.whitehouse.gov/the-press-office/2013/07/30/fact-sheet-better-bargain-middle-class-jobs
Office of the Press Secretary
For Immediate Release
July 30, 2013
FACT SHEET: A Better Bargain for the Middle Class: Jobs
One of the cornerstones of the President’s plan to create a better bargain for the middle class is to ensure that every American who is willing to work for it will have the opportunity for a good job that pays good wages. In today’s speech, the President laid out an idea that both parties should be able to support to create jobs: a plan that simplifies the tax code for our businesses and gives working families a better deal.
Our current tax code is broken and too complex, with businesses that play by the rules paying a 35% tax rate while many corporations that can hire hundreds of lawyers pay virtually no taxes at all. That is why the President has called for a revenue-neutral simplification of our business tax code to eliminate loopholes that encourage companies to ship jobs overseas and establishes a top tax rate of 28%. Under the President’s proposal, some businesses would pay less, some corporations would pay more, but everyone would pay their fair share. But if we’re going to give businesses a better deal, we should give the people who work there a better deal too. Today, the President is calling for a pro-growth tax reform and jobs package that would be fully offset using one-time revenues raised as we transition to a new business tax system. The transition revenue would support much-needed investments such as modernizing our infrastructure; creating new manufacturing hubs; and training our workers with the skills they need for the jobs of today and tomorrow. At the same time, President Obama remains committed to pursuing a long-term deficit reduction deal that includes revenue-raising individual tax reform and a balanced approach to replacing the damaging sequester.
The bottom line is that the President will work with Republicans on a package to simplify our business tax code so long as it includes real investments to help restore middle class security, create jobs and grow the economy.
Summary of the Pro-Growth Tax Reform and Jobs Package
-snip-
-snip-
Full post with 'summary' here: http://www.whitehouse.gov/the-press-office/2013/07/30/fact-sheet-better-bargain-middle-class-jobs
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