Focusing on tax policies that actually work for the people is one of the best ways that we can stimulate economic growth.
The income tax system in this country is unnecessarily complex, confusing, and full of loopholes that require years of training to understand and work in.
We can provide real benefits to working people with small policy changes, over time, such as implementing the OT40 initiative.
OT40 is a simple piece of legislation that will soften tax burdens for working people by removing any income tax from overtime hours worked. Taxation on 40 hours contributes to your "fair share". This will keep money in people's pockets, and remove tax increases that would occur by changing tax brackets. Overtime hours should be for our families, who are paying the price by keeping you from home longer.
Other changes that we can make now to alleviate money problems for people:
- No Income Tax on bonuses < 10k
- No Income Tax on Social Security benefits
- No interest for Federal Student Loans