Q&A: 9th Congressional Candidates Differ on Taxes

Daily Herald (Arlington Heights, IL), October 30, 2012 | Go to article overview

Q&A: 9th Congressional Candidates Differ on Taxes


Voters in the 9th Congressional District will choose between U.S. Rep. Jan Schakowsky of Evanston, a Democrat who has represented the 9th since 1999, and her Republican challenger, Timothy Wolfe of Arlington Heights, a CPA with his own tax and accounting practice. Both candidates responded to the Daily Herald questionnaire. Here is one excerpt: to read the entire Q&As and see the candidates biographies, visit www.dailyherald.com.

Q. Should tax breaks be extended? Why or why not? If so, for whom? What should Congress do to improve unemployment? Why do you support or oppose President Obamas jobs plan? What cuts or revenue increases do you support for deficit reduction?

Jan Schakowsky: We should not extend the Bush tax cuts for those with incomes above $250,000. In addition, I have introduced H.R. 1124, the Fairness in Taxation Act, to establish new tax rates, starting at 45 percent for annual income over $1 million and rising to 49 percent for income over $1 billion. Those rates lower than rates during the Reagan administration would raise $800 billion. We shouldnt balance the budget on the backs of seniors, middle-class and low-income families without asking the millionaires, billionaires and highly-profitable corporations to pay their fair share.

We need an aggressive strategy to create good jobs, which will reduce the deficit. I support the presidents American Jobs Act. I am the sponsor of the Emergency Jobs to Restore the American dream Act to create 2.2 million jobs including teachers, law enforcement officials, firefighters and construction workers to repair dilapidated schools. Those proposals are incorporated in the American Jobs Act.

I sponsored the Patriot Corporations of America Act to provide preference in federal contracts and lower tax rates for American companies that hire U.S. workers and conduct research here at home, paid for by eliminating tax breaks for companies that outsource jobs and profits.

As a member of the presidents National Commission on Fiscal Responsibility and Reform, I offered my own proposal to reduce the deficit. …

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