Working Mainers shouldn’t be crushed by taxes while billionaires use loopholes to dodge taxes. I’ll push to lower the federal income tax rate for households making under $50,000 a year to just 1% – putting more money back in the pockets of the families who need it most.
Here’s how my plan works:
- Lower taxes to 1% on first $50,000 earned, so families see real tax savings they can use to pay for household necessities, like groceries, heating oil, and rent.
- Automatic and easy tax filing for households who make less than $50,000 a year.
- Paid for the right way, by enacting the Ultra-Millionaire Tax Plan, closing tax loopholes for billionaires, ending special tax breaks for corporations that send American jobs overseas, and catching wealthy tax cheats.
- Phased relief above $50,000 to avoid a benefit cliff, so families won’t jump to the full normal tax bracket for earning just above $50,000. We’ll enact a cut-off for the ultra-wealthy to ensure that they still pay their fair share.
Together, we can put more money back in the hands of the working families who need it most.