Reducing the Tax Burden on Middle-Class Families and Small Businesses
Throughout his career, Senator Reed has voted to reduce the tax burden on hardworking Rhode Islanders and local businesses. He supports responsible tax reform that boosts take-home pay, spurs job growth, closes egregious loopholes, expands opportunity, and strengthens the long-term financial stability and security of our nation.
Reed opposed the trickle-down Trump Administration tax bill because it was unfair, irresponsible, and amounted to a historic transfer of wealth from students, seniors, and working families to multi-national corporations and the wealthy. That law weakened America’s financial stability and undermined the integrity of our tax structure, baking corporate tax avoidance into the system.
Senator Reed supports reforms to simplify our tax code and make it fair for families and employers alike. He has offered legislative fixes to end the loopholes that benefit special interests at the expense of working Americans, and he has supported legislation to ensure that corporations pay their fair share.
Giving more money to the wealthy and hoping it will trickle down to the rest of society is bad economics. It adds to America’s debt burden and makes rich people richer. Senator Reed knows that repairing the tax code to make it more supportive of middle-class Americans is key to a booming economy and a fairer America, and he supports efforts to do just that.