Equitable Taxation
We believe: Everyone, including the affluent and corporations, should pay their fair share of taxes.
We support:
Ensure High-Income Earners Pay a Fair Share
🎯 Objective:
Make the U.S. tax system more progressive by requiring the wealthiest individuals to contribute proportionally.
✅ Key Actions:
-
Minimum Tax for the Ultra-Wealthy: Impose a fixed minimum tax on households earning over $1 million annually, regardless of deductions or loopholes.
-
Equalize Capital Gains and Income Tax Rates: Tax capital gains and dividends at the same rate as ordinary income for high earners.
-
Eliminate the “Step-Up in Basis” Loophole: Tax unrealized gains at death above a set threshold to prevent tax-free inheritance of vast wealth.
-
Restore Estate Tax Thresholds: Lower the exemption to ~$5 million per individual (adjusted for inflation) to tax larger inheritances more fairly.
📘 Close Corporate Tax Loopholes and Ensure Global Fairness
🎯 Objective:
Ensure that corporations contribute fairly to public revenue, especially highly profitable multinational firms.
✅ Key Actions:
-
Corporate Minimum Tax: Enforce a 15% minimum effective tax rate on corporate profits (modeled after the Inflation Reduction Act provisions).
-
End Offshore Profit Shifting: Strengthen global minimum tax agreements to stop corporations from sheltering profits in tax havens.
-
Restrict Stock Buyback Favoritism: Impose a modest excise tax (e.g., 1–4%) on corporate stock buybacks to encourage reinvestment in workers and innovation.
-
Limit Accelerated Depreciation: Reduce overly generous tax deductions that allow companies to rapidly write off capital investments.
📘 Protect and Support Low and Middle Income Families
🎯 Objective:
Ease the tax burden on working-class Americans while encouraging upward mobility.
✅ Key Actions:
-
Expand the Earned Income Tax Credit (EITC): Increase the value and eligibility of the EITC to help low-income workers.
-
Make the Child Tax Credit Fully Refundable: Restore expanded credits with monthly payments for families below a certain income threshold.
-
Standard Deduction Adjustments: Raise standard deductions to keep pace with inflation and real cost-of-living increases.
-
No Federal Income Tax on the First $25,000 (individual)/$50,000 (family): Ensure basic income levels are exempt from federal taxation.
📘 Strengthen the IRS for Enforcement and Efficiency
🎯 Objective:
Increase compliance and fairness by improving tax collection and enforcement.
✅ Key Actions:
-
Fully Fund the IRS: Increase staffing and technology investment to improve audits, particularly of high-income earners and corporations.
-
Target High-Income Evasion: Focus audit efforts on individuals earning $500,000+ and profitable corporations exploiting complex shelters.
-
Modernize IRS Technology: Streamline digital filing, tracking, and communication systems to improve the taxpayer experience.
-
Free Public Tax Filing: Restore a government-run, no-cost online tax filing system to simplify filing for most Americans.
📘 Promote Long-Term Fiscal Stability and Public Trust
🎯 Objective:
Build a sustainable, fair revenue system that funds critical programs while preserving economic vitality.
✅ Key Actions:
-
Sunset Unfair Tax Breaks: Regularly review and phase out deductions and credits that disproportionately benefit the wealthy or serve narrow interests.
-
Transparent Budget-Tax Alignment: Ensure new spending proposals include revenue sources or offsets to avoid debt-driven tax cuts.
-
Tax Policy Review Board: Establish an independent, bipartisan panel to evaluate the fairness and effectiveness of federal tax policies every five years.
-
Public Education and Participation: Launch civic campaigns to explain how taxes fund public goods, aiming to restore confidence in the tax system.
TAKE ACTION – Contact Congress
(How to contact Congress) click here
Congressional Committees That Oversee Taxation
U.S. Senate
🏛 Senate Committee on Finance
-
Has jurisdiction over:
-
Taxation and revenue-related legislation
-
IRS oversight
-
Tax treaties and tax policy
-
Social Security, Medicare, and other tax-linked programs
-
🔑 Leads Senate efforts on tax reform, IRS operations, and tax compliance.
U.S. House of Representatives
🏛 House Committee on Ways and Means
The primary committee for tax legislation in the House.
-
Has exclusive jurisdiction over:
-
Federal income tax
-
Corporate taxes
-
Payroll taxes (e.g., Social Security, Medicare)
-
Tariffs and other revenue-raising measures
-
-
Also oversees:
-
The IRS
-
Tax policy implementation by the Department of the Treasury
-
🔑 This is the most powerful tax-writing committee in Congress.
More on Project 2026 issues